President of The Republic of Tajikistan Grants Audience to IsDB Vice President Operations to Discuss Prospective Bilateral Cooperation
Dushanbe, Republic of Tajikistan, 6 February 2023 – Islamic Development Bank (IsDB) Vice President Operations, Dr. Mansur Mukhtar, was granted audience by H.E. Mr. Emomali Rahmon, the Hon. President of the Republic of Tajikistan, at the Palace of Nation in the capital city of Dushanbe on 6 February 2023.
H.E. President Emomali Rahmon lauded IsDB’s ongoing fruitful cooperation with the country spanning social sector, transport, energy, irrigation and poverty reduction as well as the Bank’s consideration of processing sizeable work programs for the country within 2023, including financial support to the Rogun Hydropower Dam project - a mega initiative of the Government of Tajikistan at global scale - which could substantially increase the energy generation capacity of the country and contribute to the growing regional role of the country within the Central Asian region.
Reaffirming IsDB’s full commitment and continued support for the Republic of Tajikistan, the Vice President Muhtar stated that IsDB plans to strategize the on-going bilateral cooperation and introduce the Country Engagement Framework for the Republic of Tajikistan in 2023, which is in line with the Realigned IsDB Group Strategy 2023-2025 that pursues the needs and aspirations of its member countries in the post-pandemic era and assists in overcoming the persisting global challenges.
To date, IsDB has provided a total amount of US$ 662.6 million of financing to Tajikistan. The Bank, as a member of the Arab Coordination Group will work closely with ACG to coordinate the joint financial support for the Rogun Power Plant upon completion of all due diligence studies, which are being coordinated by the World Bank.
Further, the IsDB vice President welcomed the invitation by the Government of Tajikistan to call for a roundtable meeting by the Arab Coordination Group in Dushanbe in early May 2023 with the attempt to secure the funding for the aforementioned project.
With growing cooperation prospective, IsDB still requires the Government of Tajikistan to focus on improvement of fiduciary aspects of IsDB portfolio to address any shortcomings and ensure the transparency and efficiency of the portfolio management.
A proposed new project management framework was presented which entails the empowerment of the project implementation group, which is key to the enhanced project supervision, strengthening IsDB’s oversight of procurement processes, regular joint portfolio reviews with the concerned government stakeholders, capacity building and awareness activities on procurement and contract management.
It is worth highlighting that establishing an IsDB Field Representative Office and appointment of a Field Representative for Tajikistan, who took up duties on 7 February 2023, is timely given the increasing scope of prospective cooperation for processing of new projects, improvement of portfolio management and adopting the strategic partnership for the Republic of Tajikistan.
The Islamic Development Bank Country Portfolio Improvement Mission has expressed profound appreciation for the warm hospitality arranged by the Government of the Republic of Tajikistan and excellent arrangements made for the outcome of the visit.