In the near future a new funding mechanism for water and energy sectors in Tajikistan will be introduced
26.05.2014

In the near future a new funding mechanism for water and energy sectors in Tajikistan will be introduced

On May 19 in the Head Office of OJSC "Bank Eskhata" the meeting was held of the EBRD representatives with the Management of Bank Eskhata. The meeting’s purpose was to discuss a proposition of the EBRD to implement a new funding mechanism for rational and efficient use of energy and water resources. Senior Banker EBRD Bakhtier Mansurov marked importance of the new mechanism in conditions of Tajikistan, as in the future by the reason of climate change and raising tariffs for electricity and water, citizens and business sphere can be faced with many problems, such as lack of water and energy resources.

Republic of Tajikistan, as well as other countries in Central Asia, is a participant of the world process to prevent global negative climate change and the consequences arising from the violation of that ecosystems interaction. The rational use of water and energy resources in this context is a necessity. In this regard, the EBRD and investment funds on climate change join their efforts to create a new funding mechanism, because Tajikistan has a great potential for introduction of the programme "Financing schemes of resilience to climate change of small business." The Senior Manager of Environmental Affairs in the EBRD Mr. Craig Davis expressed the opinion: "This mechanism involves supporting Tajik businesses and households to improve the rational use of energy and water resources through the introduction of new technologies."

The sides expressed willingness to cooperate, that will lead to attracting new customers, and they will be able to use water and energy resources more rational. At the moment, the initial phase of the programme involves identifying market problems of water efficient technologies; in order for people would be interested to invest in this sector. Customers will be provided with credit lines, technical assistance and consulting services for more effective and mutually beneficial cooperation. The total amount of this pilot program can be approximately $10 to $15 million.

The Deputy Chairman of the Bank Eskhata Management, Mr. Akbar Nazarov, showed interest in implementing of such a project, which is relevant to Tajikistan, and he noted the importance of mutual cooperation with international organizations, and as well as with the Government and local authorities.

"Bank Eskhata is always ready to cooperate with the EBRD, and this programme is a continuation of a mutually beneficial and productive cooperation aimed primarily to support the private sector," - said Akbar Nazarov.


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