BAKU, Azerbaijan, June 11. The European Bank for Reconstruction and Development (EBRD) channelled over $24.5 million to over 1,220 farmers across Tajikistan, the Regional Head of Kyrgyzstan, Tajikistan and Turkmenistan for the EBRD, Ayten Rustamova told Trend.
“For almost a decade, the EBRD and the EU worked together on the Enhanced Competitiveness of Tajik Agribusiness Programme. It was successfully completed in May 2023 and contributed to the competitiveness and sustainability of Tajikistan’s agribusiness sector, which employs around half of the country’s able population. The EBRD channelled over $24.5 million to over 1,220 farmers across Tajikistan. These loans were provided both directly and through the EBRD partner-banks and supported by EU grants worth 5.65 million euros,” she said.
Rustamova noted that investments facilitated the acquisition of such equipment as innovative tractors, drip irrigation systems, cold storage units, greenhouses, poultry production lines, and modern agriculture processing machinery.
“We are very proud of this experience and look forward to implementing more similar programmes in the future. The EBRD is also sharing risk on loans provided by domestic lenders to local agribusiness producers. For example, we shared half of the risk on the loan extended by Bank Eskhata to leading vegetable grower MMK AGRO,” the regional head added.
As of February 29, 2024, the EBRD's current project portfolio in Tajikistan was 507 million euros for 72 active projects. Overall, the EBRD has committed 946 million euros to 168 projects throughout the country.