Duma Ratifies Russian-Tajik Debt Settlement Agreement

MOSCOW. June 25 (Interfax) – The Russian State Duma ratified on Wednesday the Russian-Tajik agreement to settle Tajikistan’s debt on state credits.

The agreement was signed in Moscow on December 9, 2002 and a supplement to the Agreement on October 16, 2004. Both enforce the agreement under which Tajikistan committed itself to transfer the Nurek space control system to Russia’s ownership and invest $50 million in payment for the Russian stake in the project to build the Sangtuda-1 electric power plant in Tajikistan.

The Agreement and the Supplement outline the basic parameters of calculating and settling Tajikistan’s debt to Russia – $305.73 million as of June 15, 2004 – by way of direct payments on the main debt plus interest, and by transferring the Nurek installation and 75% minus one share in the Sangtuda-1 electric power plant to Russia’s ownership.

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