Tajikistan to borrow $850mn in 2018-2020

By bne IntelliNews November 16, 2017

Tajikistan plans to borrow $850mn in 2018-2020, Asia-Plus news agency reported on November 15, citing Tajik Finance Minister Abdusalom Korboniyon.

The funds will be allocated for “the country's exit from a communication impasse, achieving energy independence and ensuring food security”, the report said. The financing is likely to cover part of the Rogun hydropower dam construction - a 3,600MW hydropower project, complete with the world's tallest dam. The project is meant to end the country’s winter energy shortages as well as support its objective to become a regional energy exporter via the CASA-1000 project.

Central Asia's poorest nation in September raised $500mn from its inaugural international bond priced at 7.125% for a 10-year term. The proceeds from the bond are also aimed at the Rogun project.

The finance minister also noted that Tajikistan has spent $140mn on debt servicing since the beginning of this year.

The largest creditors of the country include the Chinese Export-Import Bank ($1.2bn), the World Bank ($300mn), the International Monetary Fund ($107mn), Asian Development Bank ($225mn) and the Islamic Development Bank ($110mn).

Related Articles

Lion Group and New Full Rich to establish digital currency mining site in Tajikistan

Lion Group, an operator of an all-in-one trading platform and a developer of new growth products that include SPAC sponsorship, NFT, and metaverse-related initiatives, ... more

Tajikistan opens renovated Dushanbe-Bokhtar road

Tajik President Emomali Rahmon inaugurated the Dushanbe-Bokhtar (also known as Dushanbe-Kurgonteppa) road following the completion of an Asian Development Bank-funded ... more

Tajik fintech firm Alif to expand to UK

Tajik fintech firm Alif, headquartered in Dushanbe, has announced plans to open an office in the UK to grow its investor network and pursue new business development ... more

Dismiss