EBRD discusses prospects of expanding cooperation with Turkmenistan
Turkmenistan, Ashgabat, Nov. 21/ Trend H. Hasanov /
Director of the European Bank for Reconstruction and Development (EBRD) in Turkmenistan and a number of other countries in the region, Werner Gruber has discussed prospects of cooperation in Ashgabat, the Turkmen government said on Wednesday.
A detailed discussion of these issues was held at the Turkmen Central Bank and the State Commercial Bank Halkbank. During the meetings it was noted that Turkmenistan intends to use the practice of the world's leading financial institutions, including the EBRD, long-term cooperation with which includes a number of successfully implemented joint projects.
"EBRD representatives declared intention of this largest financial institution to steadily increase effective cooperation with dynamically developing Turkmenistan, which plays an important role in the sustainable development of the whole region," the statement said.
Areas such as energy, transport and communications, agriculture, small and medium business, construction and building materials, insurance, education and science were identified as promising areas of partnership.
The EBRD credit line, to support the country's private businesses, is operating in Turkmenistan. It carries out activities on financing of the industrial sector and delivery of services to the population.
For instance, Senagat Turkmen joint-stock commercial bank has financed dozens of projects worth several million dollars through the EBRD line. According to the programme of long-term socio-economic development of Turkmenistan until 2020, the growth of private sector's share in GDP is projected to reach 70 percent.