The European Bank for Reconstruction and Development (EBRD) has approved a new country strategy which will guide its work in Tajikistan in the next four years, the bank said [5 August 2015]. Supporting private enterprise, public utilities and regional connectivity are the bank’s priorities in the Central Asian nation.
- Enabling economic growth by supporting expansion of private enterprise, notably small and medium-sized enterprises, and helping improve the business environment
- Improving public utility services, as well as their operational and financial efficiency, through commercialisation and corporatisation
- Fostering regional connectivity and economic integration.
Across all its activities, the EBRD will promote climate resilience and gender equality.
Philippe Le Houerou, EBRD Vice President for Policy and Partnerships, said: “The EBRD is stepping up its focus on Tajikistan and its engagement in Central Asia as a whole. The new strategy will stimulate investment and reform, particularly in the energy and financial sectors, and help connect Tajikistan more effectively to the wider region. We are already closely cooperating with relevant counterparts to strengthen technical capacity in several sectors, notably the power sector.”
Richard Jones, Head of the EBRD Resident Office in Dushanbe, said: “One of our top priorities will be to support the development of businesses offering sustainable employment, including in the agribusiness sector where we will be rolling out a new programme later this year. I am also proud of what we’ve achieved with our clients and other international partners to improve people’s lives through better energy and water supplies, and we will continue this work under the new strategy.”
The EBRD increased investments in Tajikistan in 2014 to a record US$ 75 million. The Bank expects to invest about US$ 200 million in 2015 thanks to some high-profile projects of regional importance, including the modernisation of Tajikistan’s electricity transmission infrastructure. Since the beginning of its operations in the country in 1992, the EBRD has invested over US$ 460 million in various sectors of Tajikistan’s economy.