Ashgabat, Turkmenistan, Dec. 27
By Huseyn Hasanov – Trend:
The Asian Development Bank (ADB) will allocate loans worth $950 million for Turkmenistan, according to the Country Operations Business Plan (COBP) 2018-2019.
The country partnership strategy supports the Government of Turkmenistan objective to diversify the economy, focusing on energy and transport infrastructure, and private sector development through financing small- and medium-sized enterprises.
The Country Operations Business Plan covers priorities and outcomes in ADB’s Midterm Review of Strategy 2020.
The lending program for Turkmenistan indicates that in the next two years, $600 million will be allocated for the modernization of roads and railway networks, $200 million – for the growth of export capacities of power industry, and $150 million – for the support of small- and medium-sized enterprises.
Turkmenistan joined the ADB in September 2017 and the bank’s assistance is focused on modernization of transport sector and growth of the country’s share in regional trade.
The ADB forecasts the GDP growth of Turkmenistan at 6.5 percent, according to the updated Asian Development Outlook (ADO) 2017.