The Asian Development Bank (ADB) says it has approved a $50 million policy-based grant for a program that will help the government of Tajikistan foster a climate-responsive business environment and support small and medium-sized enterprises (SMEs) in the country.
The program aims to transform Tajikistan’s business environment through digitization, reforms to increase exports, improvement of infrastructure governance, fiscal transparency, and support for climate-friendly SMEs.
Underscoring ADB’s commitment to supporting Tajikistan in its transition to a green economy, ADB Director General for Central and West Asia Yevgeniy Zhukov commented, “By promoting climate-responsive investments and improving the overall business environment, we aim to stimulate economic growth, create green jobs, and enhance the country’s resilience to climate change.”
The program will support reforms subsidizing climate-friendly SMEs, and prioritizing funding for female entrepreneurs. It advances digitization and e-commerce through the Agency for Innovation and Digitization and the approval of the E-Commerce program.
The program will also support enhanced public investment management through assessments to recommend improvements and prioritize climate-focused projects. Fiscal transparency will improve the Ministry of Finance’s capacity to publish government finance statistics. The program will also promote international trade and investment by streamlining trade documentation processes and updating regulatory frameworks for issuing local and green bonds.
