Early Warning System

Regions

Europe and Central Asia

Geographic location where the impacts of the investment may be experienced.

Countries

Tajikistan

Geographic location where the impacts of the investment may be experienced.

Financial Institutions

European Bank for Reconstruction and Development (EBRD)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Approved

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Oct 21, 2026

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Government of Tajikistan - Ministry of Finance; Ministry of Transport; PIURR

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Law and Government
Transport

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 55.27 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 49.2
Converted using 2026-10-21 exchange rate.

Project Cost (USD)

$ 56.40 million

Bank Documents

Primary Source

Original disclosure @ EBRD website

Updated in EWS Nov 6, 2026

Disclosed by Bank Jul 22, 2026

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Can you contribute information about this project?
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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

The proposed sovereign loan of up to € 49.2 million to the Republic of Tajikistan will help to upgrade a 56 km road corridor between Baljuvon and Sari Khosor in the Khatlon Region of Tajikistan. The current road is largely unpaved and vulnerable to flooding, erosion and seasonal weather disruptions, limiting the access of local communities to essential social services and economic opportunities.

The project will enhance a year-round connectivity and transport reliability for communities in the project area strengthening their access to healthcare, education, public services, and economic markets. It supports Tajikistan's national transport and infrastructure development priorities while promoting social inclusion and regional development.

The Republic of Tajikistan, represented by the Ministry of Finance, is the Borrower. The project will be implemented by the Project Implementation Unit for Roads Rehabilitation (PIURR), an implementing agency under the Ministry of Transport of the Republic of Tajikistan. The PIURR has extensive experience delivering transport projects financed by international financial institutions, including the EBRD, the Asian Development Bank, the Asian Infrastructure Investment Bank and the World Bank. As of 2025, the PIURR has completed 15 large-scale road projects covering more than 730 km of roads throughout the country.

Early Warning System Project Analysis

For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Categorised A (ESP 2024), reflecting the potential for significant and diverse environmental and social (E&S) impacts associated with the upgrade of 56 km to a two-lane paved carriageway in a mountainous and environmentally sensitive area of Tajikistan. Key E&S risks include habitat disturbance and biodiversity impacts, particularly given the project's proximity to the Sari Khosor National Park and surrounding natural landscapes with recognised ecological and tourism value. These impacts may arise from vegetation clearance, earthworks, quarrying, and construction-related activities, as well as indirect impacts such as increased access to previously remote areas. Additional environmental risks include soil erosion and slope instability, sedimentation of watercourses, impacts on surface and groundwater quality, construction waste, noise and air emissions. Given the mountainous terrain, geotechnical risks and climate-related hazards (e.g. landslides, extreme weather events) are considered material and required integration of climate resilience measures into the design.

The project area lies within a biodiversity sensitive mountainous landscape characterised by natural and semi natural habitats of conservation importance. The assessment confirmed potential impacts including habitat loss, degradation and fragmentation, as well as disturbance to fauna during construction, and increased human activity.

The project will involve land acquisition and economic displacement. Grievance Redress Committees have been established at jamoat/village level in 19 villages.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

European Bank for Reconstruction and Development (EBRD)

A sovereign loan of up to € 49.2 million to the Republic of Tajikistan to finance the upgrade of Baljuvon - Sari Khosor road corridor in Tajikistan.

Total project cost: EUR 50,200,000.00

In addition, an investment grant of up to € 1.0 million is envisaged to support the implementation of nature-based solution components incorporated into the project design.

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Mr. Nurali Arabzoda
piurr@bk.ru
(+992 37) 222 20 73
(+992 37) 222 20 76
https://www.piurr-projects.tj/
Ayni Str. 14, Dushanbe, Tajikistan

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent.

You can contact the PCM at: pcm@ebrd.com or you can submit a complaint online using an online form at: http://www.ebrd.com/eform/pcm/complaint_form?language=en

You can learn more about the PCM and how to file a complaint at: http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html