On Thursday February 20, President Emomali Rahmon received Ms. Georgina Baker, International Finance Corporation (IFC) Vice President for Europe, Central Asia, Latin America, and the Caribbean.

According to the Tajik president’s official website, Rahmon noted that Tajikistan was satisfied with activities of IFC Office in Tajikistan and was interested in further expansion of cooperation.   

In the course of the talks, the parties reportedly issues related to cooperation between Tajikistan and IFC aimed at promoting development of finance, trade, telecommunications, trade, agrarian and private sectors in the country.  

They, in particular, discussed the issues of participation of IFC in development of energy and industrial sectors in Tajikistan as well as development of small and medium-sized enterprises (SMEs) and female entrepreneurship in the country, especially in mountain regions.   

IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets.  It works with more than 2,000 businesses worldwide, using its capital, expertise, and influence to create markets and opportunities where they are needed most.  In fiscal year 2019, IFC reportedly delivered more than US$19 billion in long-term financing for developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity.

Tajikistan became a member of IFC in 1994.  Since 1997, IFC has invested US$152 million to support 40 private sector projects in the financial, hydropower, retail, tourism, and manufacturing sectors.

The IFC's current investment portfolio comprises 45% in the financial market and 37% in telecommunications, while the rest is distributed among food, retail and agribusiness.