Tajikistan-EDB agreement comes into effect 09.02.2010 10:35 Author: Rasoul Shodon
DUSHANBE, February 9, 2010, Asia-Plus -- The Eurasian Development Bank has received an official notification from Tajikistan’s MFA that an agreement signed between the Government of Tajikistan and EDB on Bank’s presence in Tajikistan came into effect, according to the EDB press service.
Under this agreement, the EDB is a subject of international law with international legal capacity, and enjoys the rights of a legal entity in Tajikistan. The Bank has a special legal status which grants it a number of preferences and privileges in Tajikistan, including immunity against any legal process or search, requisition, confiscation or expropriation of property; inviolability of premises and vehicles; exemption from taxes and customs duties; and stability provisions protecting it from losses or risks resulting from changes in laws or banking regulation in Tajikistan.
We will recall that Tajik Minister of Finance Safarali Najmiddinov and Chairman of the EDB Executive Board Igor Finogenov signed the agreement on the terms of presence of the EDB in Tajikistan o October 21, 2009.
Tajikistan paid up its share of $500,000 in the charter capital of the EDB in June 2009, thus completing the procedures required for joining the Bank, and became its fourth full member.
In October 2009, Tajikistan appointed Safarali Najmiddinov, Minister of Finance, its authorized representative in the EDB Council, and Abdughaffor Rahmonov, First Deputy Chairman of the State Committee for Investments and State-owned Property Management, his deputy.
