As of December 31, 2022, European Bank for Reconstruction and Development (EBRD)’s current loan portfolio in Tajikistan is estimated at 524 million euros, AzerNews reports.
The EBRD’s loan portfolio, according to the bank, is designed for the implementation of 68 projects with the major part of the investment portfolio – 88% or 460 million euros- focusing on sustainable infrastructure.
EBRD, which in Tajikistan focuses on the improvement of the country’s infrastructure, its regional connectivity, and employment opportunities, envisaged seven percent – or 35 million euros – of the loans focusing on the industry, commerce, and agriculture, and six percent ( or around 29 million euros) on financial institutions.
As the country’s leading investor, the European Bank for Reconstruction and Development, which has been cooperating with Tajikistan since 1992, has invested about 908 million euros in total to implement 157 projects throughout Tajikistan.
Previously last week, EBRD allocated $50 million to Kyrgyzstan within the Phase III of the Kyrgyz Sustainable Energy Finance Facility Program (KyrSEFF) aimed at introducing sustainable energy products particularly designed for female-owned enterprises in Kyrgyzstan among the other new inclusive financial products.
Created by the EBRD and supported by the European Union, the KyrSEFF is a program for the financing of sustainable energy in Kyrgyzstan.
The financing of the first stage of the program, which was launched in Kyrgyzstan in 2013 and completed in 2016, amounted to $20 million whereas the second phase of KyrSEFF – started in 2016 and completed in 2021- has a total funding portfolio of $35 million.
EBRD-sourced money has been channeled to its partner-banks and microfinance institutions in Kyrgyzstan – such as Kyrgyzstan’s Kompanion Bank, Optima Bank, the First MicroFinance Company, Bai-Tushum Bank, Kyrgyz Investment and Credit Bank and DemirBank- to provide to any companies ready to invest into eligible projects under the program.
Under the program, the EBRD’s partner financial institutions will work together with the consultant to select projects for Kyrgyzstani companies that fall under the EU definition of small and medium enterprises.