ADB Grants Tajik Bank $10M in First Direct Loan

Bank Eskhata OJSC (Open Joint-Stock Company) and the Asian Development Bank (ADB) have signed a direct lending agreement, marking a milestone in financing for small and medium-sized enterprises (SMEs) in Tajikistan.

This agreement represents the first time the ADB has issued a direct loan to a Tajik bank, bypassing intermediary financial institutions, The Caspian Post reports, citing The Time of Central Asia.

The ADB stated that the format reflects a high level of trust in the partner bank and confidence in its stability within the national financial market. Tajikistan has been a member of the ADB since 1998.

Under the terms of the agreement, the ADB is providing a loan in local currency equivalent to $10 million. The funds are intended to support entrepreneurs implementing environmentally friendly and energy-efficient technologies, as well as projects that reduce environmental impact and contribute to building a sustainable economy.

Akmaljon Saifidinov, CEO of Bank Eskhata, described the agreement as strategically important.

“We are honored to be the first financial institution in Tajikistan to receive direct lending from the ADB. This landmark event opens new horizons for supporting MSMEs and advancing green finance,” he said, referring to micro, small, and medium-sized enterprises.

He added that the partnership with the ADB further strengthens the bank’s role as a leader in innovative financial solutions.

The ADB expects the direct lending mechanism to significantly improve access to financing for businesses.

“Direct lending will significantly expand enterprises’ access to financing and serve as a key stimulus for the development of green initiatives in Tajikistan,” said Ko Sakamoto, head of the ADB office in Dushanbe.

The loan is expected to support projects in energy efficiency, green technologies, and sustainable business models, areas that have traditionally lacked access to long-term financing.

In a separate initiative, the ADB recently approved a $3 million grant to enhance Tajikistan’s capacity for glacier monitoring and natural disaster forecasting.

The project includes the creation of a unified digital system for analyzing risks related to snow and ice melt and aims to improve public safety in mountainous regions.