Ashgabat, Turkmenistan, July 25
By Huseyn Hasanov- Trend:
Turkmen Finance Minister Muhammetguly Mukhammedov was appointed WB governor from the Turkmen side, according to Turkmen President Gurbanguly Berdimuhammedov's decree.
WB group previously reported that it supports the reforms in Turkmenistan through an intermediate strategy for the period up to 2015, which does not envisage borrowing.
WB representatives assist the Turkmen government in the implementation of a long-term national program of socio-economic development through consultations.
The WB strategy consists of two components. The first component focuses on the activity in the areas proposed by the Turkmen government, such as macro-economic statistics, development of financial and private sectors.
The second component is a set of strategic analytical research conducted by the World Bank in the areas of economic diversification, investment climate, privatization, as well as issues related to the country's accession to the WTO.
Turkmenistan joined the World Bank in September 1992. The bank opened its representative office in Ashgabat in 1996.