President Emomali Rahmon of Tajikistan welcomed a delegation from the Board of Directors of the World Bank on March 7, to discuss ongoing cooperation and future prospects between Tajikistan and the esteemed financial institution, the presidential press service reported.
The meeting saw a comprehensive discussion on various facets of collaboration, including bolstering the country's economy against threats and risks, attracting investments across diverse sectors, and ensuring sustainable development. President Rahmon expressed contentment with the existing level of cooperation and the successful implementation of numerous projects facilitated by the World Bank in Tajikistan.
Key areas of focus during the discourse included the need to enhance investments in education, healthcare, agriculture, transportation, ecology, and tourism. Additionally, discussions emphasized the importance of fortifying resilience against natural disasters and advancing toward a green economy through continued digitization efforts.
The enduring support provided by the World Bank in facilitating economic reforms, particularly in financing the energy sector and ensuring food security, was highlighted as a testament to the mutually beneficial partnership between Tajikistan and the institution.
Given the complex global landscape, exacerbated by climate change and its repercussions, both parties stressed the imperative of ongoing reforms to mitigate risks and navigate challenges confronting the national economy.
In addition to deliberating on immediate concerns, the meeting also provided a platform for fruitful exchanges on other pertinent topics of mutual interest.
Background on World Bank-Tajikistan Relations:
Tajikistan's association with the World Bank dates back to 1993, followed by its inclusion in the International Development Association (IDA) in 1994. Over the years, the World Bank has extended substantial support to Tajikistan, amounting to over $2.9bn in grants and concessional credits, aimed at poverty alleviation and enhancing livelihoods.
Under the current Country Partnership Framework (CPF) for 2019-2023, Tajikistan's development trajectory focuses on augmenting private-sector development and exports, diversifying its economic model, and fostering sustainable growth. Notably, the active portfolio includes various projects spanning energy, water, transport, education, and agriculture sectors, reflecting the multifaceted nature of collaboration between Tajikistan and the World Bank.
Recent initiatives, such as the Tajikistan Strengthening Resilience of the Agriculture Sector Project and the Resilient and Sustainable Tajikistan Development Policy Operation, underscore the commitment to addressing immediate challenges while advancing long-term structural reforms. Furthermore, technical assistance for the Rogun Hydropower Project and human development endeavors further solidify the partnership's focus on holistic development and resilience building.
The Tajikistan Financial and Private Sector Development Project, approved in 2023, stands as a testament to ongoing efforts to fortify the financial sector and stimulate economic growth through targeted interventions.
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