Translated with AI
The European Bank for Reconstruction and Development (EBRD) has allocated $5 million for private sector development in Tajikistan. The funds, in national currency, will be allocated to two partner banks, Humo Bank CJSC and Bank Arvand CJSC, with $2.5 million each. This was reported by the EBRD press service.
The funding is aimed at supporting green lending under the GEFF Tajikistan (Green Economy Financing Facility) programme, as well as the development of youth entrepreneurship through the EBRD's flagship Youth in Business programme.
The GEFF Tajikistan program is supported by donor funds from South Korea, Austria, and the Green Climate Fund (GCF). It focuses on providing loans for projects in energy efficiency, renewable energy, and sustainable development.
The EBRD's "Youth in Business" programme is very popular in Tajikistan and aims to stimulate entrepreneurship among young people. Its implementation in the country is supported by the EBRD Shareholder Special Fund.
"We continue to support private sector development in Tajikistan and are confident that these funds will help strengthen the position of local entrepreneurs, especially young people, and will contribute to the development of a sustainable and green economy," the EBRD said in a statement.
