ASIAN DEVELOPMENT BANK TO ALLOCATE $410 MILLION CREDIT TO TAJIKISTAN

Within the crediting program, Prime Minister of Tajikistan Akil Akilov and ADB head Andrian Rotenberg signed a “Memorandum of Mutual Understanding”. The document says that $410 million credit will be allotted to Tajikistan by ADB for 2004-2006. Aside from this, for participation of the Central Asia region in the joint regional projects with other countries it is expected to allocate 2 credits amounted to $15 million.

The first Memo between Tajik government and ADB was signed in June 1998. Since that time, the bank approves new credit program for Tajikistan once in 3 years. These programs envisage allocation of $40 million credits yearly. Credits are allotted for 32 years at 1,5 percent annual interest rate.