EDB supports Tajikistan in launching Central Asia's first Sovereign Sustainable Finance Framework
Dushanbe, 6 August. - The Eurasian Development Bank has provided financing for the independent Second Party Opinion (SPO) as part of the Sovereign Sustainable Finance Framework launched by the Ministry of Finance of the Republic of Tajikistan. The Framework, which received an «Excellent» rating — the highest possible — enables Tajikistan to issue green and social bonds in line with international standards.
This is the first such framework in Central Asia and an important step toward building a regional sustainable finance market.
The Framework, developed by the Ministry of Finance of the Republic of Tajikistan with the support of the World Bank Group’s Sustainable Finance Advisory Program, has received an independent Second Party Opinion from the AIFC Green Finance Centre Ltd. (GFC). The GFC has confirmed the Framework's full alignment with internationally recognized principles and awarded it an “Excellent” rating — the highest possible.
EDB's Technical Assistance Fund supports the Framework
The SPO was financed through the Technical Assistance Fund of the Eurasian Development Bank (EDB). The Fund supports the preparation and structuring of investment projects in the Bank's member countries, helping to ensure they meet international standards and are ready for investor due diligence.
Proceeds from sustainable financing instruments issued under the Framework — including green, social, and sustainability bonds and loans — will be allocated to eligible projects in renewable energy, clean transportation, water management, ecosystem protection, as well as social infrastructure: education, healthcare, housing, and employment support.
The launch of the Framework is the first step toward Tajikistan's inaugural sovereign green bond issuance. This will allow the country to diversify its funding sources, attract new categories of ESG-focused investors, and strengthen confidence in its climate and social commitments.
«The approval of the Sovereign Sustainable Finance Framework marks a significant milestone in the development of the Republic of Tajikistan's public financial management system. The Framework fully aligns with international standards and reflects the Government's commitment to creating an enabling environment for mobilizing sustainable finance based on transparency and the principles of sound public financial management. Its implementation will expand financing opportunities for projects that promote sustainable economic growth, strengthen social infrastructure, improve energy efficiency, and enhance the country's resilience to climate change», — Faiziddin Sattor Kahhorzoda, Minister of Finance of the Republic of Tajikistan.
«We congratulate the Government of the Republic of Tajikistan on the publication of its Sustainable Finance Framework and the accompanying independent Second-Party Opinion — a significant step forward in the development of the country’s sustainable finance market. We are delighted to have supported the Ministry of Finance in establishing a strong foundation for Tajikistan’s inaugural sovereign green bond issuance. This initiative can help strengthen investor confidence, mobilize financing for environmentally sustainable development in a transparent and credible manner, and support Tajikistan’s transition towards a greener and more climate-resilient economy», — — Vladimir Yakunin, Country Director for Tajikistan, Eurasian Development Bank.
«Tajikistan's Sovereign Sustainable Finance Framework is an important milestone — not only for the country but for the entire Central Asian region. The World Bank is proud to have supported the Ministry of Finance in developing a framework that meets the highest international standards and has earned an 'Excellent' rating. We look forward to seeing this framework unlock new sources of financing for clean energy, social infrastructure, and climate resilience, delivering real and lasting benefits for the people of Tajikistan», — Gael Raballand, WBG Country Manager for Tajikistan, World Bank.
«We are proud to have provided an independent Second Party Opinion on Tajikistan’s Sovereign Sustainable Finance Framework and to have assigned it our highest rating of ‘Excellent’. This assessment reflects the Framework’s strong alignment with international market standards, robust governance arrangements and credible approach to the allocation and management of proceeds. The Framework represents an important milestone not only for Tajikistan, but also for the development of sustainable finance across Central Asia. It sets a strong example for other sovereign issuers in the region seeking to mobilise sustainable investment through credible and internationally aligned financing instruments», — Manas Gizhduaniyev, Chief Executive Officer, AIFC Green Finance Centre.
Additional Information:
The Eurasian Development Bank (EDB) is a multilateral development bank investing in Eurasia. For 20 years, the Bank has worked to strengthen and expand economic ties and foster comprehensive development in its member countries. By the end of December 2025, the EDB’s cumulative portfolio comprised 348 projects with a total investment of US $22,1 billion. Its portfolio consists principally of projects with an integration effect in transport infrastructure, digital systems, green energy, agriculture, manufacturing and mechanical engineering. The Bank adheres to the UN Sustainable Development Goals and ESG principles in its operations.
The EDB is implementing three mega-projects as part of its 2022–2026 Strategy: the Eurasian Transport Network, the Eurasian Agricultural Goods Distribution System and the Central Asian Water and Energy Complex.
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