The Asian Development Bank (ADB) has appointed Chang Ching Yu as its new Country Director for Turkmenistan on Thursday, ADB reports. Mr. Yu will lead ADB’s operations in Turkmenistan and take the lead in the implementation of the bank’s Country Partnership Strategy, 2017–2021.
“I am delighted to be in Turkmenistan at this critical juncture of cooperation between Turkmenistan and ADB,” said Mr. Yu at the statement. “ADB has a long-standing partnership with the country and is committed to supporting the government’s development objectives through our country partnership strategy. Together with my team, I look forward to supporting the diversification of export markets for Turkmenistan’s energy products and supporting private sector development to create jobs and help the country achieve its development goals.”
ADB’s development partnership with Turkmenistan began in 2000. Since then, ADB has supported the country to diversify its economy and increase its regional connectivity. In November 2018, ADB approved the Country Operations Business Plan, 2019–2021, for Turkmenistan, with committed lending amounting to $150 million and another $690 million for prospective projects to develop the country’s transport and transit potential, promote energy exports, and advance private sector operations.