ADB ready to support social sectors in Turkmenistan
Baku, Azerbaijan, Oct.31
By Leman Zeynalova – Trend:
The Asian Development Bank (ADB) is ready to support social sectors in Turkmenistan, the bank told Trend.
“In late 2017, ADB approved its first 5-year Country Partnership Strategy (CPS) for Turkmenistan for 2017-2021. The CPS supports the national development priorities of promoting energy trade, strengthening transport connectivity, and increasing small and medium-sized enterprises’ access to finance,” said the bank.
ADB said the CPS aims to support infrastructure and energy sectors which are also expected to contribute to regional connectivity.
“The CPS is flexible enough to support the social sectors if the government wishes to obtain financial resources and technical assistance in that area,” said the bank.
ADB began working with Turkmenistan in 2000, and has since been helping to diversify the country’s export markets and increase its regional connectivity.
The ADB country partnership strategy, 2017–2021 for Turkmenistan aims to help the country become a catalyst for regional cooperation and integration by diversifying its markets and repositioning it as a trade and transit hub. In December 2017, ADB approved the country operations business plan (COBP), 2018–2019 for Turkmenistan. It outlines lending of $950 million to help develop Turkmenistan’s transport and transit potential, promote the exporting of energy, and advance private sector operations.
Since 2010, the country has also benefi ted from regional technical assistance projects under the Central Asia Regional Economic Cooperation (CAREC) Program.
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