The Islamic Development Bank (IsDB) supports investment projects to enhance Tajikistan education sector.
The press center of the Ministry of Finance of Tajikistan (MoF) says a loan agreement for 45 million US dollars and a grant of 25 million US Dollars were signed in Dushanbe on January 30 between the Government of Tajikistan, represented by Mr. Faiziddin Qahhorzoda, Minister of Finance, and the Islamic Development Bank, represented by Mr. Ibrahim Shukri, IsDB Regional Director for Central Asia.
This soft loan provided by the IsDB and the grant provided by the Global Partnership for Education (GPE) are reportedly allocated to co-finance the 2nd phase of the Quality Education Support Program designed to support the implementation of the Tajikistan’s National Development Strategy for the period up to 2030 priorities on expanding productive employment as well as enhancing the human capital development.
In addition, the Program is facilitating the implementation of the National Strategy for Education Development until 2030, as well as the commitments of the Government of Tajikistan towards achieving Sustainable Development Goals.
Tajikistan joined the Islamic Development Bank on November 27, 1996 and has a capital subscription of ID 18.2 million (0.04% of total IsDB subscribed capital).
The IsDB supports implementation of investment projects in education, healthcare, energy, transportation, agrarian and other priority socioeconomic sectors of Tajikistan. To-date, the IsDB has reportedly accepted 86 investment projects in a total amount of 641 million USD, and US$286 million worth of 23 projects have been implemented in various sectors of Tajikistan’s economy so far.
The Islamic Development Bank is a multilateral development finance institution that is focused on Islamic finance for infrastructure development and located in Jeddah, Saudi Arabia. There are 57 shareholding member states with the largest single shareholder being Saudi Arabia.
GPE is a shared commitment to ending the world’s learning crisis. It mobilizes partners and funds to support nearly 70 countries to transform their education systems, so that every girl and boy can get the quality education they need to unlock their full potential and contribute to building a better world.
Source: Asia Plus
