DUSHANBE, October 23, 2013, Asia-Plus – Tajikistan is going to borrow another 371.6 million U.S. dollars in the coming three years despite unsettled debts.

Members of Tajikistan’s lower house (Majlisi Namoyandagon) have endorsed a draft external borrowing program of Tajikistan designed for 2014-2016.

A regular sitting of the fifth session of the Majlisi Namoyandagon of the fourth convocation, presided over by its head, Shukurjon Zuhurov, was held on October 23.

Presenting the draft external borrowing program, the Minister of Finance, Safarali Najmiddinov, noted that it is aimed at promoting further development of the country’s energy, agrarian and social sectors.

“In 2014, the government plans to attract 168.2 million USD in loans for development of the country’s economy,” said the minister.  “127.7 million USD will be attracted in 2015 and 81.7 million USD will be attracted in 2016.  In all, 371.6 million USD will be attracted in the coming three years.”

48 million USD will go to financing development of the agrarian sector, 19.8 million USD will go to financing development of the health sector, 15.1 million USD will go to supporting enhancement of the education sector, 115 million USD will be used for enhancement of the energy sector and 47 million USD will be used for development of transportation and infrastructure.

“All these loans will be provided to Tajikistan on easy terms,” the minister stressed.

Besides, Tajikistan is expected to receive 642 million USD in grants from international financial institutions and separate countries in 2014-2016, Najmiddinov added.

According to Najmiddinov, Tajikistan’s external debt now amounts to 2.1 billion USD.

The main part of Tajikistan''s debt is reportedly loans received from the World Bank (WB), the Asian Development Bank (ADB), the European Bank for Reconstruction and Development (EBRD), and the Export-Import Bank of China (Exim Bank of China).