DUSHANBE, October 20, 2010, Asia-Plus  -- State and prospects of further expansion of cooperation between the Government of Tajikistan and the European Bank for Reconstruction ad Development (EBRD) were discussed here today at a meeting of President Emomali Rahmon with Mr. Nick Tesseyman, EBRD Managing Director for Financial Institutions.

After a meeting with President Rahmon, Mr. Tesseyman told reporters that they also discussed issues related to development of leasing and banking sector in Tajikistan.

He stressed that the EBRD was largest investor in Tajikistan’s financial sector.  According to him, the Bank today participates in implementation of 44 projects in Tajikistan for a total of more than 100 million euros.

Mr. Tesseyman also noted that that the EBRD was currently participating in a number of large projects in Tajikistan such as reconstruction of the Qairoqqum hydropower plant and water supply in Varzob district as well as rehabilitation of the Dushanbe-Tursunzoda road.

He added that the Bank supported 10 projects for a total amount of 70 euros offered by the Tajik government and was ready to finance them.

We will recall that under EBRD’s strategy in Tajikistan, the Bank’s activities in the country will focus on fostering the private sector, strengthening the financial sector and supporting critical infrastructure.

In developing the private sector, the first priority is to develop micro, small and medium-sized enterprises (MSMEs) through microfinance instruments, small and medium-sized enterprises credit lines, and Trade Facilitation Program.

The financial sector will be strengthened through various means including broadening lending products and extending a Medium-Sized Co-financing Facility to suitable local banks.

In supporting the country’s infrastructure, the EBRD will facilitate commercialization, while concentrating on the basic needs of the population and affordability.