/IRBIS, July 26, 2010/ - The Government of Tajikistan and the Eurasian Development Bank (EDB) signed on Saturday in Dushanbe, the Agreement on granting financial credits from the Anticrisis Fund (ACF) of the EurAsEC for 70 million dollars, reports today IA "News-Kazakhstan.

As indicated, signed the loan agreement signed by Minister of Finance of Tajikistan Mr. Safarali Nadzhmiddinov and Managing Director for the activities of ACF EDB Mr. Sergei Shatalov.

According to Mr. Nadzhmiddinova, the Government of Tajikistan intends to use the loan funds to support the state budget in 2010 in order to provide budgetary financing of social sectors (education, health and social protection) at the planned level. In addition, the loan will support ongoing government reform of public administration and public finance whose purpose - improving the sustainability of budgetary system and effective use of public resources.

The reforms, in particular, provide for the strengthening of accountability of public resources by creating and strengthening institutions for internal and external auditing, as well as a full access of civil society to information on public finances. These important reforms, the minister said, will further develop during the development of subsequent loans from the ACF.

At the signing ceremony, it was noted that Tajikistan was the first country- member of Eurasian Economic Community, which received funds from the Anticrisis Fund. Credit granted for a period of 20 years (including a 5-year grace period) with a fixed interest rate of 1% per annum.

According to Mr. Sergei Shatalov, in the upcoming strategy of cooperation with Tajikistan, the EDB provides not only the presentation of financial loans, but also worked out options for investment cooperation, which will strengthen the country's export capacity and will improve the welfare of the citizens of the republic.

[2010-07-26]