Tajikistan to attract almost a billion dollars of foreign loans and credits over the next 3 years

Almaty. November 16. Silkroadnews – In the coming three years Tajikistan will attract $916 million of foreign loans and credits, Tajik Telegraph Agency (TajikTA) reported on Wednesday.

“The Parliament of Tajikistan adopted a program of public external debt for 2017-2019. Within the coming three years the country is expected to get external loans in the amount of $916 million”, the statement said.

When presenting the program project minister of finance of Tajikistan Abdusalom Kurbonien said the funds raised will be used to finance projects in agriculture, education, health, energy, communication, housing, public administration and PPP fields.

According to the finance minister, the loans will be attracted at 0.5-2% interest per annum with maturity term from 20 to 40 years. With this, he added, 35% of these funds will include grants or irrevocable loans.

“The major creditors of the program are the World Bank, Asian Development Bank, Islamic Development Bank, European Bank for Reconstruction and Development, Saudi Fund for Development and banks of China”, minister said.

Currently, Tajikistan’s external debt amounts to $2 billion 276 million or around 36% of GDP.