Turkmenistan Looks to Further Intensify Cooperation With EBRD

BUSINESS TURKMENISTAN
Turkmenistan Looks to Further Intensify Cooperation With EBRD
The parties considered the prospects for cooperation in areas of mutual interest.

Turkmenistan aims to further intensify cooperation with the European Bank for Reconstruction and Development (EBRD), the Turkmen side stated during an online meeting on Friday with the EBRD delegation.

The EBRD delegation was led by Managing Director for Central Asia Zhuzhanna Hargitai, while the Turkmen side was represented by the Chairman of the Central Bank Gadyrgeldy Mushshikov and Deputy Foreign Minister Vepa Hajiyev, the Turkmen Foreign Ministry said in its press release.

The parties discussed a number of directions of mutually beneficial partnership of financial and credit institutions, private sector of Turkmenistan with the EBRD.

The Turkmen side stressed the need to further intensify cooperation with the EBRD in energy, transport, light industry, development of small and medium-sized businesses, taking into account the environmental component.

In turn, the EBRD representative for Central Asia stressed the bank's readiness to assist the Turkmen side and highlighted that the country has a huge potential for joint implementation.

The parties also considered the prospects for cooperation in areas of mutual interest.

In its latest Regional Economic Prospects (REP) report, the EBRD expects economies of Central Asian countries – Kazakhstan, the Kyrgyz Republic, Mongolia, Tajikistan, Turkmenistan and Uzbekistan – to grow by 4.9% on average in 2021. The report notes that in 2021 growth was driven by the normalization of domestic activities following a gradual relaxation of restrictions related to COVID-19.