Turkmenistan, ADB Discuss Financing of International Projects

BUSINESS TURKMENISTAN
Turkmenistan, ADB Discuss Financing of International Projects
During the session, the parties paid special attention to the intensification of cooperation between the Government of Turkmenistan and the ADB in the financing of a number of international projects.

A video conference meeting was held at the Representative Office of the Asian Development Bank (ADB) in Ashgabat on Monday.

The representatives of the state institutions of Turkmenistan, including the Ministry of Finance and Economy, Ministry of Healthcare and Medical Industry, Central Bank and State Bank for Foreign Economic Activities and the representatives of the ADB Headquarters in Manila (Philippines) attended the video conference.

During the session, the parties paid special attention to the intensification of cooperation between the Government of Turkmenistan and the ADB in the financing of a number of international projects. In this regard, the parties noted the efficiency of partnership between Turkmenistan and ADB based on trust and mutual respect.

The participants also underlined the significance of efforts aimed at accelerating mutually beneficial cooperation between the Government of Turkmenistan and the ADB.

The ADB’s development partnership with Turkmenistan began in 2000. Since then, the International bank 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.