Tajikistan is expected to join the Islamic Solidarity Fund for Development (ISFD) and add to the 36 member countries that have already announced their commitment to contribute to the fund established in 2007 to alleviate poverty.

During his visit to Dushanbe, capital of Tajikistan last month, H.E. Mr. Birama Boubacar Sidibe, Vice-President (Operations) of the Islamic Development Bank (IDB), met President of the Republic of Tajikistan, H.E. Mr. Imamoli Rahmonov, who stressed the importance of his country’s participation in ISFD, and he issued a directive to the ministry of finance to secure Tajikistan’s contribution to the fund.

The President expressed his thanks and appreciation for the important assistance provided by the Bank to his country, which had, a very positive impact on development, particularly in the sectors of transportation, electricity, agriculture and irrigation, as well as enhancing social infrastructure i.e., health &education, as he said.
He also commended the IDB role in assisting the Tajik Government to overcome the effects of the current global financial crisis and its repercussions through the bank's contribution to the financing of micro projects in favor of the poor and middle sectors in Tajikistan.

Moreover, Sidibe signed a US$20 million soft loan agreement from ISFD with H.E. Mr. Najmuddin the Minister of Finance for Development for Kulyab - Klaikhom Road Project extending over 92 km. Other co financiers of the same project are the Saudi Fund for Development (US$20 million), the Kuwaiti Fund for Development (US$17 million), Abu Dhabi Fund for Development (US$15 million) and OPEC Fund for International Development (US$13 million), in addition to the contribution of the Government of Tajikistan, (about US$ 6 million). The implementation of the project will start later this year.

In addition, Sidibe signed an agreement to provide lines of credit totaling (US$4 million) for two local commercial banks in Tajikistan: the Amanat Bank of Tajikistan (US$2.5 million), and the Bank of Exports (US$ 1.5 million). Three other local banks are expected to sign similar agreements upon the completion of negotiations with the IDB and utilize the US$ 10 million approved by IDB Board of Executive Directors for lines of microfinance.

IDB Group total funding for the Republic of Tajikistan to date has amounted to about US$190 million, including contributing to the funding of 34 development projects, and financing for the foreign trade to help alleviate the effects of the financial crisis on the agricultural sector.

Sidibe, made also a quick visit to the Republic of Kazakhstan, where he
Signed with two Istisna'a and agency agreements for the construction of 58- km road section border of South Kazakhstan Oblast Taraz under the Western Europe – Western China road corridor. The total cost of this project stands at US$195 million, where IDB participation estimated at US$170 million.

The total funding approved by the IDB Group for the Republic of Kazakhstan has so far amounted to about US$ 415 million, including the funding of 24 development projects, covering education, health, transportation, communications, water, and rural development sectors in addition to the provision of lines of credit to local banks.