The European Bank for Reconstruction and Development (EBRD) is providing up to $15 million in financing to two Tajik banks, the Investment and Credit Bank of Tajikistan (ICB) and Bank Arvand, to expand access to green finance and support women-led businesses. The initiative aims to strengthen financial inclusion while promoting climate resilience and sustainable economic development across the country.
The financing package is structured into targeted lending programs designed to support micro, small, and medium-sized enterprises (MSMEs), households, and women entrepreneurs. A portion of the funding will specifically encourage investment in environmentally sustainable technologies and climate adaptation measures.
ICB will receive two loans totaling $10 million. The first $5 million loan, under the Tajikistan Green Economy Financing Facility II, will support investments in energy-efficient and resource-saving solutions for residential and commercial borrowers. These include technologies that improve water efficiency and promote sustainable land use. The facility is co-financed by the Green Climate Fund and supported by international donors, including South Korea and Austria.
The second $5 million loan to ICB is part of the EBRD’s Women in Business program for Central Asia. This initiative aims to improve access to finance for women-owned and women-led enterprises, with funds provided in local currency. The program is also supported by the European Union through its Global Gateway strategy and includes technical assistance and risk-sharing mechanisms to encourage lending to underserved businesses.
Bank Arvand will receive an additional $5 million loan to support climate change mitigation and adaptation investments. The funding will help expand green lending operations and increase access to finance for environmentally sustainable technologies across Tajikistan. Like the ICB facility, it is linked to the Green Economy Financing Facility II and is designed to promote local currency lending.
The initiative reflects a broader effort to combine climate finance with inclusive economic development. By targeting women entrepreneurs and environmentally sustainable businesses, the program aims to address structural gaps in access to finance while supporting Tajikistan’s transition to a greener economy.
The EBRD has invested more than €1 billion in Tajikistan to date through nearly 200 projects, focusing on private sector development, financial sector strengthening, and sustainable infrastructure.
