Meeting of the Minister of Economic Development and Trade with the President of the Islamic Development Bank Group

On April 30, 2024, in the city of Riyadh, Kingdom of Saudi Arabia, a meeting was held between the Minister of Economic Development and Trade/Plenipotentiary Representative of the Islamic Development Bank (IDB) from the Republic of Tajikistan, Zavqizoda Zavqi Amin, and the President of the Islamic Development Bank Group (IDB), Dr. Muhammad Sulaiman Al- Jasser.

Zavqizoda Z. A. noted that thanks to the wise policy of the Founder of Peace and National Unity - Leader of the Nation, President of the Republic of Tajikistan, respected Emomali Rahmon, cooperation with the IDB Group has reached a high level and the Republic of Tajikistan considers IDB as a reliable development partner.

At the meeting, the parties discussed the progress of implementation of instructions following the meeting of the Founder of Peace and National Unity - Leader of the Nation, President of the Republic of Tajikistan, respected Emomali Rahmon, with the President of the Islamic Development Bank Group, Dr. Muhammad Suleiman Al-Jasser (November 11, 2023, Riyadh) and the implementation a number of important projects in the fields of energy, transport, infrastructure development, education, healthcare, irrigation and other priority socio-economic sectors of Tajikistan.

It was pleasant to note that on April 27 of this year, the Board of Executive Directors of the IDB approved a project to finance the construction of the Rogun hydroelectric power station for a total amount of $550 million, including $150 million from the bank’s own account, and the remaining $400 million from Arab development funds.

Zavqizoda Z.A., thanking the bank for such support, asked the president of the IDB Group to pay attention to priority sectors of the national economy, including the development of green energy, especially the construction projects of the Roghun hydroelectric station and the Guliston-Farkhor-Pyanj road. - Dusti, irrigation of agricultural lands, educational institutions, creation of textile enterprises, production of halal products, logistics centers, development of trade and tourism, traditional Islamic banking, strengthening the export potential of the country, the private sector, preventing the effects of climate change, as well as ensuring the implementation of the Partnership Strategy between Tajikistan and IDB for 2023-2026.

In turn, the President of the IDB Group expressed his readiness to increase funding for projects in these areas, as well as strengthen further cooperation.

It should be noted that to date, the BIR group has allocated investment projects worth $753.4 million in various sectors of the economy of the Republic of Tajikistan.

In addition, it was noted that within the framework of bilateral cooperation for 2023-2026, the IDB Group provided for the allocation of more than $235 million for the implementation of the country’s priority projects.