EBRD signs up to €55.4 million of sovereign loans with Tajikistan
First projects under a finance ministry pact to 2030 upgrade a flood-prone Khatlon road and finish Kulob water works; Humo Bank gets up to $16 million.
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The European Bank for Reconstruction and Development is lending Tajikistan up to €55.4 million in two sovereign loans for a road in the Khatlon region and a water and wastewater project in the city of Kulob, the bank said on 27 October.
The larger loan, up to €49.2 million, pays for upgrades to a 56 km section of the road from Baljuvon to Sari Khosor, which the bank says is impassable in winter and spring because of seasonal flooding. It will give 19 communities with nearly 6,000 people a year-round link, and comes with up to €4.2 million of EBRD grants for implementation and road safety advice. The second loan, up to €6.2 million, helps complete the Kulob project, which the bank says will give more than 100,000 people uninterrupted access to clean water; a bank grant of up to €3.4 million supports implementation, and the new funding supplements earlier EBRD and European Union loans and grants of €16.5 million.
They are the first projects signed under a memorandum of understanding between Tajikistan's Ministry of Finance and the bank, which sets a cooperation framework until 2030. Under it, the bank says, Tajikistan's infrastructure and energy sectors could attract up to €750 million of its investment over the next five years.
The same day the bank announced up to $16 million for Humo Bank, a Tajik lender, in three loans: up to $10 million under the second Green Economy Financing Facility for Tajikistan, co-financed by the Green Climate Fund, up to $4 million under the Youth in Business programme for Central Asia and up to $2 million under the Central Asian Women in Business programme.
The road loan follows another in the same region: in March 2025 the bank lent up to €38 million for a 49 km section of the Dangara to Guliston road, with grants of up to $86.7 million from the Asian Development Bank. At that time the bank counted more than €1 billion invested in Tajikistan through 183 projects; the October releases give more than €1 billion through 200 projects. The bank has also been active elsewhere in Central Asia this autumn, with three Kazakh loans in September, while the ADB signed a $200 million loan for Uzbek power distribution.
The releases do not give the tenor or pricing of the loans.