Tajikistan

              Resilient and Sustainable Tajikistan Development Policy Operation

                                           Chair Summary*

                                           January 12, 2023

The Executive Directors approved an IDA grant in the amount of SDR 39 million (US$50 million
equivalent) for the Resilient and Sustainable Tajikistan Development Policy Operation (DPO) on
the terms and conditions set out in the President’s Memorandum.

Directors welcomed the operation noting that it responds to the authorities’ request for sustained
Bank support to advance structural reforms to accelerate sustainable economic growth and
strengthen economic and social resilience to shocks. They appreciated the Bank’s support for the
Tajikistan’s National Development Strategy 2030 and the operation’s alignment with the Global
Crisis Response Framework, particularly in protecting the poor and vulnerable. They also stressed
the urgency of assisting Tajikistan as it faces heightened macroeconomic uncertainty.

Directors noted that the operation is the first DPO in Tajikistan since 2012 and welcomed the
reopening of development policy engagement with the authorities, noting that along with the
proposed technical assistance it presented a window of opportunity to move forward the reform
agenda in the country. They also noted the importance of improving the business environment and
scaling down the role of State-Owned Enterprises (SOEs). They encouraged a greater presence of
IFC and MIGA to develop a sustainable private sector and asked for more ambition on the gender
dimension of the country program.

Directors acknowledged the challenging governance and institutional context in Tajikistan and the
substantial overall risk of the operation and encouraged close monitoring of the project’s
implementation. They stressed the importance of the Government’s continued commitment to the
timely implementation of the reform agenda, and of strong collaboration with development
partners to support the Government’s risk mitigation efforts.




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*This Summary is not an approved record.