Today brought some good news for Tajikistan. It seems as though Tajikistan’s recently outlined commitment to advancing development in the country is paying off. The World Bank certainly noticed, and is proposing to write off much of the country’s debt, and increase funding.

RIA-Novosti news agency quoted WB Vice President Francois Bourgignon as saying that the World Bank intends to follow in the steps of the International Monetary Fund and chalk off Tajikistan’s foreign debts. “The matter will be settled this February at the meeting of the WB Board and after consultations with G8 members because it is the latter the initiative to chalk of debts of nine poorest countries belongs to,” Bourgignon said after a meeting with president of Tajikistan in Dushanbe, this Monday. According to the executive, the World Bank will finance Tajikistan much better this year, using the money this country transacted by way of payments and finding additional sums. “Of all countries with the low income level, Tajikistan is doing the best in the matter of economic reforms,” Bourgignon said. Tajikistan’s debts to the World Bank amounted to $307.17 million on January 1, 2006.