The EDB will provide Tajikistan with $40 million credit two tranches

Almaty. August 17. Silkroadnews – The Eurasian Development Bank (EDB) managing the funds of the Eurasian fund for stabilization and development (EFSR) and Tajikistan signed an agreement to provide the republic with the financial credit in the amount of $40 million to be transferred in two equal tranches to support the country's economic reforms in 2016-2017, TASS reports.

Tajikistan has fulfilled all the conditions for the credit granting as set by the EFSR Board's decision dated December 8, 2015. The first tranche of $20 million is planned to be carried out until the end of August 2016.

It is noted, Tajikistan's reforms program supported by the EFSR financial credits is focused on measures aimed to raise economic resilience to external shocks through the implementation of prudent monetary and fiscal policies and structural reforms. A number of measures has been designed to strengthen and develop the financial sector, improve the efficiency and transparency of state-owned enterprises and investment climate.

In the medium term the state budget is expected to be supported with rationalization of customs and tax privileges (through improvement in their cost transparency and elimination of inefficient preferences). This measure is a key condition for the second tranche of the loan, the control date of which will be specified during the bank representatives' visit to Tajikistan scheduled for the beginning of September 2016, the publication says.