ADB Provides $60 Million Grant to Tajikistan In 2009
DUSHANBE, TAJIKISTAN (04 August 2009) - Asian Development Bank (ADB) has approved two grant projects to Tajikistan this year amounting to $60 million.
ADB's Board of Directors last week approved a $20 million grant to supplement the Dushanbe-Kyrgyz Border Road Rehabilitation Project. The project is rehabilitating the highway which forms part of the Transport Corridor III that connects Kazakhstan, Kyrgyz Republic, People's Republic of China, Tajikistan, Afghanistan, and Uzbekistan.
"The project aims to reduce transport costs, foster regional trade and cooperation, and improve access to markets and social services for local population," said Makoto Ojiro, ADB's Country Director for Tajikistan, during a press conference today. Over the past years, ADB has provided support of over $98 million in loans and grants to rehabilitate the Dushanbe-Kyrgyz border road.
In early July, ADB approved and disbursed a $40 million crisis recovery support grant program to help Tajikistan sustain critical social spending programs that have been imperiled by the global economic crisis.
The program helps the government deal with budget shortfall and maintain core spending programs for critical social needs such as welfare payments and social services for vulnerable groups. It also supports public investments designed to preserve and create new jobs for economic recovery.
The ADB's project complements assistance from other multilateral agencies and bilateral sources, including International Monetary Fund, World Bank, and European Commission.
"ADB's grant assistance package to Tajikistan for 2010 is currently set at $74 million. The assistance program is expected to cover investments mainly in the energy and transport sectors," Mr. Ojiro said. "In order to mobilize adequate resources for development, ADB will also support critical reforms in private sector development."
Tajikistan joined ADB in 1998. ADB has been supporting poverty reduction in the country through investments in infrastructure, agriculture and rural development, social sector, and regional cooperation. As of August 2009, ADB has approved $372.54 million in loans, $33.89 million in technical assistance, and $160.77 million in grants to Tajikistan.
ADB, based in Manila, is dedicated to reducing poverty in the Asia and Pacific region through inclusive economic growth, environmentally sustainable growth, and regional integration. Established in 1966, it is owned by 67 members – 48 from the region. In 2008, it approved $10.5 billion of loans, $811.4 million of grant projects, and technical assistance amounting to $274.5 million.
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