China, World Bank, and ADB: Who Does Tajikistan Owe?
Tajikistan's national debt has decreased to $3.6 billion, reaching its lowest level in the past 15 years. At the start of 2025, the debt amounted to 25.2% of GDP, with the majority being external loans, reports NewsBox.
Tajikistan's national debt has been reduced to $3.6 billion, marking the lowest figures in 15 years. According to Finance Minister Faiziddin Kahhorzoda, the debt-to-GDP ratio has now fallen to 25.2%, which is the best outcome during this period.
Out of the total debt, $3.2 billion (89%) is from foreign loans, while $382 million is related to domestic obligations. Last year, the republic allocated $299.2 million for debt servicing, with $204.3 million for principal repayment and $94.9 million for interest payments.
The main creditors of the country:
China – approximately $1 billion
World Bank – $370 million
Asian Development Bank – $260 million
Islamic Development Bank – $212 million
European Bank for Reconstruction and Development – $167 million
Furthermore, Tajikistan is indebted $500 million in Eurobonds, issued in 2017 to fund the construction of the Rogun Hydropower Plant.
Financial Plans for 2025
Tajikistan's state budget for 2025 allocates $380 million for debt repayment, which accounts for 8.1% of total government expenditures.
Servicing external debt - $382 million:
- $303 million for principal
- $97 million for interest
Servicing domestic debt - $178.7 million
- $106 million for principal
- $72.7 million for interest payments
Plans also include securing new loans to finance the completion of the Rogun Hydropower Plant.
Republic anticipates $3 billion from international partners, with $1.9 billion as concessional loans and $1.1 billion as grant support.
Following the ratification of new agreements by parliament, the country's external debt is expected to rise significantly.