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The European Bank for Reconstruction and Development (EBRD) has named Nodira Mansurova as its next regional head for Kyrgyzstan, Tajikistan, and Turkmenistan, putting her in charge of operations in three Central Asian markets where the bank has invested more than €2.5 billion combined. Mansurova will be based in Bishkek and is expected to take up the post on September 1, 2026. She will replace Ayten Rustamova, who has led the regional office since 2021. The appointment gives Mansurova oversight of one of the EBRD’s more varied regional portfolios in Central Asia. As of March 31, 2026, the bank’s cumulative investment stood at €1.177 billion in Kyrgyzstan, €1.059 billion in Tajikistan, and €327 million in Turkmenistan. The three countries present different operating environments for the bank. In Kyrgyzstan and Tajikistan, EBRD activity has included infrastructure, private-sector development, financial services, and energy-related projects. In Turkmenistan, the bank’s work has been more limited and has focused mainly on private businesses and financial-sector activity. Mansurova has worked for the EBRD since 2001. Born in Uzbekistan and now a British citizen, she has held roles in London and in several countries where the bank operates. Her previous posts included regional head of SME Finance and Development for Central Asia, based in Almaty, and head of the EBRD’s operations in Tunisia. Her new role comes as international financial institutions continue to focus on infrastructure, energy transition, private-sector growth, and regional connectivity in Central Asia.
Bank Eskhata OJSC (Open Joint-Stock Company) and the Asian Development Bank (ADB) have signed a direct lending agreement, marking a new stage in financing for small and medium-sized enterprises (SMEs) in Tajikistan. This is the first time the ADB has issued a direct loan to a Tajik bank, bypassing intermediary financial institutions. The ADB stated that the format reflects a high level of trust in the partner bank and confidence in its stability within the national financial market. Tajikistan has been a member of the ADB since 1998. Under the terms of the agreement, the ADB is providing a loan in local currency equivalent to $10 million. The funds are intended to support entrepreneurs implementing environmentally friendly and energy-efficient technologies, as well as projects that reduce environmental impact and contribute to building a sustainable economy. Akmaljon Saifidinov, CEO of Bank Eskhata, described the agreement as strategically important. “We are honored to be the first financial institution in Tajikistan to receive direct lending from the ADB. This landmark event opens new horizons for supporting MSMEs and advancing green finance,” he said, referring to micro, small, and medium-sized enterprises. He added that the partnership with the ADB further strengthens the bank’s role as a leader in innovative financial solutions. The ADB expects the direct lending mechanism to significantly improve access to financing for businesses. “Direct lending will significantly expand enterprises’ access to financing and serve as a key stimulus for the development of green initiatives in Tajikistan,” said Ko Sakamoto, head of the ADB office in Dushanbe. The loan is expected to support projects in energy efficiency, green technologies, and sustainable business models, areas that have traditionally lacked access to long-term financing. In a separate initiative, the ADB recently approved a $3 million grant to enhance Tajikistan’s capacity for glacier monitoring and natural disaster forecasting. The project includes the creation of a unified digital system for analyzing risks related to snow and ice melt and aims to improve public safety in mountainous regions.
