Tajikistan_Preparing the Financial Sector and Fiscal Management Improvement Program

The Asian Development Bank (ADB) is preparing the Tajikistan Financial Sector and Fiscal Management Improvement Program. The program concept was approved in December 2019 and aims to support the Government of Tajikistan with reforms to create a more stable financial system, enhance access to financial services, and improve fiscal management to accelerate sustainable private sector growth.

The program will (i) enhance banking sector stability, (ii) improve the enabling environment for the financial sector, and (iii) strengthen public financial management. The program will support the government’s reform agenda in the national development strategy up to 2030, and includes two subprograms to be implemented during 2020–2021.

Output 1: Individuals deposit insurance fund strengthened. 

Output 2: Macroprudential supervision improved.

Output 3: Financial sector strategy developed. T

Output 4: Government securities market strengthened.

Output 5: Financial sector legal and regulatory framework reviewed and revised. 

Output 6: Public expenditure management improved

Major responsibilities of the Insurance Specialist include, though not limited to, the following activities:

(i) Support NBT to implement ADB recommendations for i) improving insurance regulation and supervision, ii) capacity building for NBT, and iii) insurance market development;

(ii) Assist NBT to prepare the amendments to the insurance regulation in line with Insurance Core Principles;

(iii) Provide training and workshops for NBT staff.