Regions and Countries

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p. 3 of 4 BACK | NEXT I. Current Development Trends and Issues II. Implementation of the Country Strategy and Program III. Portfolio Management Issues IV. Country Performance and Assistance Levels

Country Strategy and Program Update 2003-2005: Tajikistan

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III. Portfolio Management Issues

A. Portfolio Performance

25. Since joining ADB in 1998, Tajikistan has received six loans amounting to $102.6 million, all from the Asian Development Fund (ADF) as a fully eligible country for ADF, of which five loans with a net amount of $79.5 million were active at the end of 2001. During 2001 disbursements totaled $2.9 million, bringing cumulative disbursements to $6.1 million.⁸ The favorable record in 2000 was caused by the completion of the first program loan with the second tranche release in 2000. However, portfolio performance in 2001 was weak because of (i) Tajikistan's young portfolio, (ii) project implementation difficulties at the start-up of investment loans due to the lack of experience of executing agencies, and (iii) operational constraints under the security status in Tajikistan in the past years. With the recent security improvement and the active participation of executing agencies in strengthening their project implementation capacities, the implementation of all loans is being accelerated and significant improvement of the disbursement ratio is expected by end-2002. There are no at-risk loans and no project performance audit report has been prepared. Detailed performance indicators are in Appendix 1 A1.7-8. By end-2001, 24 TAs amounting to $12.5 million had been approved, of which 7 TAs were completed. The Government provides the required counterpart funds in a timely manner despite severe budgetary constraints.

B. Performance Monitoring and Evaluation

26. ADB set up an extended mission in March 2002 in view of the increased needs of ADB's presence in the field and a strong demand for intensified operational assistance. The first country portfolio review is planned in early 2003 jointly with WB. On the Government's side, the capacity of the aid coordination unit, which takes the lead role in monitoring and coordinating all external assistance to the country, is being strengthened by ADB's support under the TA for Aid Coordination and External Debt Management. ADB's ability to monitor performance and support project implementation will be significantly enhanced through the proposed resident mission.

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