The Asian Development Bank (ADB) is focused on enhancing the competitiveness of small and medium-sized enterprises (SMEs) in Turkmenistan through financial and technical support, according to an interview with Arthur Andrysiak, Director of ADB's Turkmenistan office, reported by Trend on Tuesday.
As part of its 2024-2028 partnership strategy with Turkmenistan, ADB aims to support the government’s efforts to diversify the economy, develop the private sector, and strengthen human capital.
A key element of this support is a project aimed at boosting the export potential of SMEs. “The project will provide SMEs with access to credit, improve risk management, and incorporate climate considerations into the banking sector,” Andrysiak said.
In addition, the bank will promote private sector development through public-private partnerships (PPP), offering expertise and capacity-building to improve the business climate. In collaboration with Turkmenistan's Ministry of Finance and Economy, ADB is conducting a study to identify opportunities and challenges for private sector involvement and PPPs, and is developing a roadmap to create more favorable conditions.
Andrysiak emphasized that ADB is ready to invest in the private sector, supporting innovation and transformational opportunities that will aid in diversifying the economy and increasing its competitiveness.
ADB remains a key partner for Turkmenistan, actively supporting infrastructure improvements, human capital development, and climate change mitigation efforts.
