DUSHANBE, November 12, 2010, Asia-Plus  -- Parliamentarians have approved the program of external borrowings for 2011-2013.

A regular sitting of the Majlisi Namoyandagon (Tajikistan’s lower chamber of parliament) was held on November 11.

Presenting the state borrowing program, Minister of Finance Safarali Najmiddinov noted that it includes 61 credit projects for a total amount of 1.6 billion U.S. dollars.

The main donors of the program are international financial institutions.  “The share of the World Bank is US$47 million, the Asian Development Bank (ADB) – US$158.8 million, the Islamic Development Bank (IsDB) – US$194 million, the Saudi Fund for Development – US$41.8 million, the Kuwait Fund for Arab Economic Development – US$30.8 million, the Abu Dhabi Fund for Development – US$15 million, the OPEC Fund for International Development (OFID) – US$38.8 million, the European Bank for Reconstruction and Development (EBRD) – US$143 million, the Export-Import Bank of China (China Exim Bank) – US$780 million, and the Eurasian Development Bank (EDB) – US$90 million,” said the minister, “The programs also includes two projects costing US$25 million and US$22.4 million that are financed by the governments of France and Germany respectively.”

According to him, all agreements include grants.  A total amount of grants is 102 million U.S. dollars.

“In addition to this, the government jointly with international donor organizations plans to attract 300 million U.S. dollars for implementation of the credit projects,” Najmiddinov said.

He noted that 11 projects for a total amount of US$23 million would be implemented in the agrarian and land reclamation sector, four projects (US$33.5 million) would be implemented in the health sector, four projects (US$46.8 million) in the education sector, 11 projects (US$81 million) in energy and industrial sectors, 18 projects (US$742 million) in the transport and communication sector, one project (US$10 million) in the public management sector, and 10 project (US$47.7 million) are aimed at enhancing housing and communal services.

The loans carry an interest rate of 0.15 to 2 percent and are payable over 20 to 40 years with grace periods of 5 to 8 years, the minister said.