Announcement of Tajikistan Joins the World Bank on June 4, 1993

FOR IMMEDIATE RELEASE World Bank 1818 H Street, N.W., Washington, D.C. 20433, U.S.A. *Telephone: (202) 477-1234 BANK NEWS RELEASE NO. 93/S69 Contact: Peter Riddleberger Tel. (202) 473-1786 TAJIKISTAN JOINS THE WORLD BANK WASHINGTON, June 4, 1993--The Republic of Tajikistan joined the International Bank for Reconstruction and Development (IBRD) today. Rustam Mahkamov, Deputy Chairman of the Council of Ministers, signed the IBRD's Articles of Agreement of behalf of Tajikistan's government. The country becomes the 175th member of the IBRD, which is the World Bank Group's main lending arm that provides loans at market rates to member countries to help them finance development projects. To fulfill its financial obligations as a member of the IBRD, Tajikistan is making a payment of $5.32 million to the institution. As of today, all 15 republics of the former Soviet Union have become members of the IBRD. Tajikistan has also become a member of the International Development Association. IDA is the World Bank affiliate that provides interest-free loans to low-income countries. And, Tajikistan has signed the Convention Establishing the Multilateral Investment Guarantee Agency (MIGA), thereby taking the first step toward membership in this organization. MIGA is the World Bank affiliate that promotes foreign direct investment in developing countries by providing guarantees, policy advice and promotional services.