DUSHANBE, Tajikistan, May 18. The European Bank for Reconstruction and Development (EBRD) will provide Tajik bank Arvand with two loans totaling $10 million, Trend reports.
According to the EBRD, the agreement was signed at the bank's annual shareholders' meeting. These two loans, each worth $5 million, aim to improve access to green technologies and climate change adaptation for businesses and households in Tajikistan. Additionally, they will support the development of youth entrepreneurship in the country.
The loans are part of a financing package totaling $15 million, the largest ever offered to a financial institution in Tajikistan. It comprises three loans of similar size, up to $5 million each.
The first loan is part of the Tajikistan Green Economy Financing Facility II (GEFF Tajikistan II), while the second loan falls under EBRD’s Youth in Business program in Central Asia. This program targets micro, small, and medium-sized enterprises (MSMEs) led or owned by individuals under 35 years old.
As of February 29, 2024, the EBRD's current project portfolio in Tajikistan was 507 million euros, with 72 active projects scheduled for completion. Overall, the EBRD has committed 947 million euros to 168 projects throughout the country.