Turkmenistan, ADB Review Implementation of Joint Projects

BUSINESS TURKMENISTAN
Turkmenistan, ADB Review Implementation of Joint Projects
The meeting participants reviewed the ongoing joint projects and programmes aimed at supporting private businesses.

The Minister of Foreign Affairs of Turkmenistan Rashid Meredov held a meeting with the Director of ADB Resident Mission in Turkmenistan Chang-Ching Yu on Tuesday, Turkmen Foreign Ministry said in its press release.

The meeting participants discussed priority vectors of cooperation, including the practical implementation of new projects. The sides particularly considered the issues of developing close cooperation in the banking sphere, and the intensification of activities on the implementation of joint projects in the energy and transport fields.

Taking into account the global pandemic situation, the parties paid special attention to the necessity of consolidating efforts on mitigating the socio-economic impacts of the COVID-19. In this regard, the interlocutors focused on the efforts of Turkmenistan in strengthening stability and economic growth in the country and in the region.

The parties also reviewed the ongoing joint projects and programmes aimed at supporting private businesses.

ADB began working with Turkmenistan in 2000. Endorsed by the Government of Turkmenistan in January 2020, ADB’s country operations business plan, 2020–2022 outlines a firm lending program worth $150 million, alongside $690 million in standby projects. These investments are intended to contribute to increased power and gas exports, better roads and transport infrastructure, and improved access to finance for export-oriented small and medium-sized enterprises.