USAID Assists in Capital Market Development in Turkmenistan

The U.S. Agency for International Development (USAID), in partnership with the Ashgabat Stock Exchange (ASE), on Wednesday awarded certificates to specialists for successfully completing training courses on brokerage services and securities issuance.

Training sessions took place in April-June. Two sessions were conducted for brokers, while the other two for issuing companies. As a result of this initiative, ASE has increased the number of its private securities brokers by 25 and provided information to 45 owners and managers of Turkmen companies on how to raise capital by issuing corporate bonds and stocks, the USAID said in its press release.

Presenting the certificates and addressing the session participants, the USAID Country Representative to Turkmenistan Nino Nadiradze said, “You are all pioneers and pathmakers. With your determination to try out new types of activities and methods for attracting financing, you will move the economy forward.”

The solemn event also included presentations by USAID and ASE specialists on developing capital market infrastructure in Turkmenistan and its importance in raising long-term funds for economic development.

ASE was established in 2016 and acts as a leading institution in shaping capital markets in the country. USAID and ASE are working on a roadmap that is expected to create a resilient and well-functioning capital market.

Photos: USAID