DUSHANBE (TCA) — The Eurasian Development Bank (EDB) is considering participation in the rehabilitation of the Nurek hydropower plant in Tajikistan. This was discussed at the meetings of EDB Chairman Dmitry Pankin with Tajikistan Prime Minister Kokhir Rasulzoda and Tajik Finance Minister Abdusalom Kurboniyon in Dushanbe last week.
The sides discussed the previously signed project agreements and discussed potential investment projects in Tajikistan, EDB’s press office said.
The full upgrade of Tajikistan’s largest hydropower facility will require over US $600 million. The Tajik government is conducting negotiations with international financial institutions, including EDB, to attract investment in the project.
In addition, the sides discussed the financial credit to Tajikistan for the support of the public budget. The Council of the Eurasian Fund for Stabilisation and Development had previously approved a US $40 million credit for the country, to be provided in two US $20 million tranches. The first tranche will be extended in late August or early September 2016. The head of EDB pointed out that the financial credit was an important tool in supporting economic reforms promoted by the Tajik government.
The sides also discussed the banking sector and state-run enterprises, the relationships between Tajikistan and international financial institutions and their coordination, and possible investment projects in the private sector. It was stated at the meetings that Tajikistan was interested in closer cooperation with EDB, which promotes economic growth in the country and supports its private sector.
Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. EDB’s charter capital totals US $7 billion. The member states of the Bank are Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia, and Tajikistan.
