On Aug. 13, Tajikistan and the Eurasian Fund for Stabilization and Development signed an agreement in Dushanbe on a $200 million loan to support the country’s budget, the Tajik National News Agency Khovar reported.

The agreement was signed during EFSD Executive Director Yaroslav Mandron’s visit to Tajikistan. The 20-year loan includes a 10-year grace period and carries an annual interest rate of 1%.

Mandron said the agreement was the fund’s first budget-support loan since its reform and is in line with its mandate to promote macroeconomic and financial stability in the region. The funds will finance budget expenditures, including priority social-sector spending, and help ease fiscal pressures associated with the repayment of Eurobonds, he said.

The financing will support Tajikistan’s macroeconomic stabilization program and structural and institutional reforms for 2025-2027 .

Loan funds will be disbursed in three stages in 2026-2027 following implementation of the program’s measures. The program includes 12 measures covering macroeconomic stability, fiscal policy and the reduction of quasi-fiscal risks, as well as greater transparency in macroeconomic and structural policies.

During Mandron’s visit, Prime Minister Qohir Rasulzoda held an expanded meeting with him. The meeting was attended by Finance Minister Fayziddin Kahhorzoda, Energy and Water Resources Minister Daler Juma and Zafarbek Davlatzoda, director of the Agency for Land Improvement and Irrigation under the Government of Tajikistan.

The sides discussed priority areas of cooperation for the fund’s new strategic period, including energy, water management, agriculture and transport.

Mandron also held meetings with Minister of Economic Development and Trade Abdurahmon Abdurahmonzoda, State Committee for Investments and State Property Management Chairman Sulton Rahimzoda and Khurshed Mirzo, director of the Agency for Innovation and Digital Technologies under the President of Tajikistan.

The meetings focused on analytical cooperation, prospective infrastructure and social projects, digital government services and education.

The EFSD maintains a representative office in Tajikistan to coordinate its activities and cooperation with government authorities.

The fund was established by Armenia, Belarus, Kazakhstan, Kyrgyzstan, Russia and Tajikistan under a June 9, 2009 treaty. Its main objective is to promote economic and financial stability in member countries.