World Bank Proposes Ashgabat to Diversify Cooperation

World Bank Proposes Ashgabat to Diversify Cooperation
The parties exchanged views on perspectives of intensification of relations.

The World Bank proposed Turkmenistan to widen cooperation and diversify ways of collaboration, press service of Turkmenistan’s Foreign Affairs Ministry reported on Tuesday.

The Ministry of Foreign Affairs of Turkmenistan hosted the Regional Director for Central Asia at the World Bank Lilia Burunciuc and the World Bank Country Manager for Turkmenistan Jan-Peter Olters, who arrived in Ashgabat on a working visit.

Confirming huge potential for cooperation between Turkmenistan and the World Bank, the sides discussed the current collaboration with particular focus on the World Bank’s assistance to the activities of the International Fund for Saving the Aral Sea.

Turkmenistan is the Chair of the International Fund for Saving the Aral Sea for 2017-2019.

The representatives of the international financial institution proposed to widen collaboration on projects in the spheres of digital economy, logistics, energy, water resources and hydrometeorology.

“Certainly, the involvement of international expertise in developing these fields is an integral part of Turkmenistan’s policy,” according to the Ministry of Foreign Affairs of Turkmenistan. 

The World Bank officials also offered the institution’s expertise to upgrade Turkmenistan’s banking system and ensure the application of international financial standards in the country.

Turkmenistan currently cooperates with the World Bank, International Monetary Fund, European Bank for Reconstruction and Development, Asian Development Bank, Islamic Development Bank and other major financial institutions.