The EFSD presents sovereign financing results at a meeting of the Tajikistan Development Coordination Council
The Eurasian Fund for Stabilization and Development took part in a regular meeting of the Tajikistan Development Coordination Council, where it presented its estimates of the volumes and areas of sovereign financing across Eurasia.
The EFSD presents sovereign financing results at a meeting of the Tajikistan Development Coordination Council
The Eurasian Fund for Stabilization and Development (EFSD) took part in a regular meeting of the Tajikistan Development Coordination Council, where it presented its estimates of the volumes and areas of sovereign financing across Eurasia.
“In 2024, total approved sovereign financing in the Eurasian region from international financial institutions, development agencies and climate funds reached US $12.6 billion, almost double the 2023 figure of US $6.5 billion,” said Artem Levenkov from the EFSD during the event. He also noted a substantial increase in financing for social infrastructure in 2024, with US $839.6 million allocated for healthcare and US $337.4 million for education. There was also a stronger focus on food security in 2024, with allocations totalling US $1.3 billion.
The presentation also paid particular attention to sovereign financing in Tajikistan. Last year, the country saw 52 approved operations amounting to US $1.3 billion, including US $1.2 billion in investments – the highest figure since 2008. These record-high amounts are attributed to the start of financing for the Rogun HPP.
Participants noted that monitoring sovereign financing improves transparency and supports better coordination among donors.
The EFSD has been monitoring sovereign financing in the Eurasian region since 2008. Its monitoring covers 11 countries: Azerbaijan, Armenia, Belarus, Georgia, Kazakhstan, the Kyrgyz Republic, Mongolia, Russia, Tajikistan, Turkmenistan and Uzbekistan. The 2024 report is available here: 2024_Annual_Report_ENG.PDF
The Eurasian Fund for Stabilization and Development (EFSD) is a regional financing arrangement totalling over US $9 billion, established in 2009 by the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation and the Republic of Tajikistan. The EFSD aims to promote economic and financial stability in its member states and support their sustainable development.
The Development Coordination Council (DCC) was established to improve the effectiveness of aid in Tajikistan and facilitate dialogue on shared priorities with the Government of Tajikistan. The DCC serves as a mechanism for coordinating the efforts of development partners with the Government to support the 2016–2030 National Development Strategy and the 2021–2025 Medium-Term Development Strategy. The Council includes representatives from 30 international financial institutions operating in Tajikistan.