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Tuesday, September 19, 2017

World Bank Group launches new partnership strategy for Tajikistan

The World Bank's board of executive directors discussed a new Country Partnership Strategy for Tajikistan on Tuesday aimed at guiding the support of the bank and the International Finance Corporation to the country in 2015-2018.

The strategy outlines the World Bank Group's plans in Tajikistan and sets out priorities for cooperation between the group and the government.

The CPS supports the World Bank Group's goals of reducing extreme poverty and increasing shared prosperity by promoting private sector-led growth and social inclusion as well as enhancing regional connectivity.

"While Tajikistan achieved positive economic growth in the past decade, accompanied by impressive poverty reduction trends, a new level of commitment to deeper structural reforms is now needed to maintain growth at levels that can produce jobs in Tajikistan," Saroj Kumar Jha, World Bank regional director for Central Asia, said. "We are looking forward to our continued collaboration with Tajikistan to support a new model of growth through higher private sector investments, supported by better public services for the population and better integration for Tajikistan into global markets and knowledge."

The new strategy was developed after consultations with members of the private sector and civil society as well as the donor community and was drafted in collaboration with the government.

"The strategic direction of the new four-year program is to boost the incomes and welfare of the poorest 40 percent of the population," Marsha McGraw Olive, the World Bank country manager in Tajikistan, said.

The strategy also aims to narrow the gender gap by improving women's access to finance, land rights and high quality social services.

"Medium and small enterprises are the most important source of new employment," Christopher Miller, IFC Tajikistan's country officer, said. "Under the new CPS, IFC will address the barriers that limit these firms from investing and growing, including investor protection, tax administration, and access to finance, electricity, and land."

Since 1996, the World Bank has provided $955 million in International Development Association credits, grans and trust funds to improving the lives of Tajikistan's people.