- Tajikistan has become the newest member of the Multilateral Investment Guarantee Agency (Miga), a branch of the World Bank Group. This brings Miga’s membership totals to 160.
Tajikistan’s payment of the initial capital subscription was the final requirement needed to complete the membership process begun in 1993. It coincided with a high-level meeting of Tajik president Emomali Rakhmonov and members of his cabinet with World Bank president James Wolfensohn.
With a per capita GNP of US$161 in 2001 and over 80% of the population living below the poverty line, Tajikistan is the poorest among the countries of the former Soviet Union. Since 1993, the World Bank has been supporting Tajikistan’s development through projects aimed at poverty reduction, human development, economic growth, agricultural productivity, and post-conflict rehabilitation.
“Challenges remain, however,” says Miga’s executive vice-president, Motomichi Ikawa, “including the ongoing need to encourage private sector development, create incentives, and improve the investment climate to help generate growth and employment, and thus reduce poverty. Through our investment guarantee and technical assistance programmes, we at Miga look forward to helping to encourage progress in these areas.”