IFC plans to support new projects in Tajikistan
23 December 2013
The results of cooperation between Tajikistan and International Finance Corporation (IFC) in 2013 and prospects of cooperation in 2014 were discussed here on December 20 at a meeting of Abdujabbor Shirinov, Chairman of the National Bank of Tajikistan (NBT) with Christopher Miller, IFC Country Director for Tajikistan.
According to the NBT press center, Mr. Miller noted that IFC would continue its activity in Tajikistan on several projects aimed to support microfinance, raise financial awareness, support operations at Tajikistan’s first private credit bureau, etc.
IFC country director noted that they planned to implement a number of new projects in Tajikistan in cooperation with Tajik central bank, the NBT press center said.
For his part, Tajik central bank head appreciated IFC’s support for operations at Tajikistan’s credit bureau, which has promoted improvement of access to finance for small and medium enterprises (SMEs), entrepreneurs, and consumers.
Shirinov reportedly also underlined significance of IFC’s support for development of lending sector in Tajikistan and attraction of investment in the country’s lending sector.
Established in 1956, IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector in developing countries.
Tajikistan became a member of IFC in 1994. IFC began operating in the country by pioneering advisory projects in 2004. Since 1997, IFC has invested $81 million to support 33 private sector projects in the financial sector, hydro power, retail, tourism and manufacturing sectors.
Advisory Services has become a cornerstone of IFC's private sector development work in Tajikistan. A significant portion of the program has been focused on the energy sector, but much has been accomplished in agribusiness and financial markets.
IFC works with private sector clients, government, and civil society to bring the benefit of global expertise to Tajikistan through its advisory services and selected investment projects. IFC, with its focus on private sector development, has an important role to play in supporting inclusive growth and job creation in Tajikistan.