Tajikistan and the World Bank signed key agreements on December 21, 2023, with the aim of bolstering the country's financial sector and promoting economic growth. Finance Minister Faiziddin Qahhorzoda and World Bank Country Manager for Tajikistan Ozan Sevimli formalized the deal in Dushanbe, Asia Plus reported.
The Tajikistan Financial and Private Sector Development Project, backed by a $50 mn grant from the International Development Association (IDA), seeks to fortify Tajikistan's financial sector, stimulate private sector growth, and support overall economic development.
In addition, extra funding for the Regional CASA 1000 Power Transmission Project, totaling $11 mn, has been earmarked. This initiative aims to transmit surplus summer electricity from Tajikistan and Kyrgyzstan to Afghanistan and Pakistan, fostering the development of electricity trading mechanisms and establishing a regional electricity market in Central and South Asia.
Furthermore, the CASA 1000 Community Support Project for Tajikistan will receive an additional $10 mn to enhance the quality and expand access to electricity services. The project will also focus on improving socio-economic infrastructure and reinforcing the capacity of local self-government in inclusive communities within the covered territory. The funding for this project will be provided by the International Development Association.
Earlier Daryo reported that during a diplomatic meeting, Tajikistan's President Emomali Rahmon received Dr. Abdulhamid Alkhalifa, the Director-General of the OPEC Fund for International Development. The discussions centered on the existing partnership and prospects for future growth between Tajikistan and the OPEC Fund.
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