Turkmenistan and ADB assess implementation of new joint projects

Turkmenistan and the Asian Development Bank (ADB) reviewed the implementation of new joint projects, Azernews reports.

According to the Turkmen Foreign Ministry, the implementation of these projects was discussed during a meeting between the Minister of Foreign Affairs of Turkmenistan, Rashid Meredov and the Director General of the Central and West Asia Department of the ADB Eugenue Zhukov.

During the meeting, the sides exchanged views on the state of cooperation between Turkmenistan and the ADB, discussed the possibilities of implementing new joint projects in the fields of transport, healthcare, and entrepreneurship, as well as issues related to renewable energy sources.

The effectiveness of Turkmenistan's long-term cooperation with the ADB was emphasized, in particular, in the areas of transport and energy, as well as in the field of private sector support and investment partnerships.

Furthermore, the parties discussed joint preparatory work to celebrate the 25th anniversary of Turkmenistan becoming an ADB member in 2025.

Meanwhile, ADB has been cooperating with Turkmenistan since 2000 and has been helping to diversify the country's export markets and strengthen its regional interconnections.

For example, the bank offered expert assistance in establishing long-term exports of Turkmen electricity to Afghanistan, and the loan portfolio approved by the bank for the country amounted to $125 million.

Turkmenistan has also been involved in technical assistance projects through the Central Asia Regional Economic Cooperation (CAREC) Program since 2010.