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EBRD and Korean Government Support Green Economy Development in Tajikistan

Photo: courtesy of the EBRD

The European Bank for Reconstruction and Development (EBRD), with the assistance of the Government of the Republic of Korea, organized a study tour to Seoul for representatives of the banking sector in Tajikistan.

The group included representatives of the National Bank of Tajikistan, EBRD partners in the financial sector (banks “Arvand”, “Eskhata”, “First Microfinance”, as well as MDO “Imon International” and “Humo”), and other officials.

Photo courtesy of EBRD

The study tour began on February 19 and will run until February 26 and will allow participants to learn from the Korean economy’s transition to a green, low-carbon and sustainable economy with a focus on the financial sector. 

Photo courtesy of EBRD

The trip program includes meetings with representatives of scientific and academic circles, the Central Bank, leading commercial banks and the national payment system of Korea. Given the relevance of the issue of adapting the economy of Tajikistan to the consequences of climate change, a separate module on this topic was included in the program of the visit.

Photo courtesy of EBRD

The EBRD, whose lending is fully compliant with the Paris Agreement since 2023, continued to support Tajikistan’s transition to a green economy. The transition to a green economy is one of the strategic directions of the EBRD.

Photo courtesy of EBRD

This is the Bank’s new approach to helping countries of operation build green, low-carbon and sustainable economies. In accordance with it, the EBRD plans to increase the share of green financing to more than 50% of the annual volume of operations by 2025.

Photo courtesy of EBRD

According to the “Green Economy Development Strategy for 2023-2037” released by the government of Tajikistan in September 2022, its implementation, including green financing for the first stage (2023-2025), will require investments of over $2 billion ($21.6 billion). somoni).

Photo courtesy of EBRD

To date, the EBRD has invested €908 million in the country’s economy through 157 projects. 

Source : Asia Plus Tj