Baku, Azerbaijan, May 1
By Leman Zeynalova – Trend:
The immediate plans of the Asian Development Bank (ADB) in Turkmenistan are to complete design optimization of some of the projects in the pipeline with a view to enhancing their economic viability, financial sustainability and, ultimately, welfare improving functions, ADB Country Director in Turkmenistan, Ahmet Cevdet Denizer told Trend.
He said ADB is in early stage of discussions with the government of Turkmenistan for project possibilities in transport and in social sectors.
“Ongoing design optimization concerns two proposed projects, namely, (i) railway modernization and (ii) SME finance,” noted the country director.
Moreover, according to Denizer, ADB has recently engaged the government in the Bank’s non-sovereign operations comprising the provision of loans, guarantees or equity investments to privately held, state-owned or sub-sovereign entities, in each case, without a government guarantee.
Following a government subscription to the framework agreement and subject to the strong pipeline of bankable projects, ADB non-sovereign financing will augment its operations in the country, he added.
ADB began working with Turkmenistan in 2000, and has since been helping to diversify the country’s export markets and increase its regional connectivity. Given Turkmenistan’s vast energy resources and strategic location, ADB operations focus on enhancing the country’s transport and energy sectors, with infrastructure projects fostering regional cooperation. ADB has also provided expert advice to facilitate the long-term export of power to Afghanistan.
In November 2018, ADB approved the country operations business plan, 2019–2021 for Turkmenistan. The committed lending program amounts to $150 million, with another $690 million for prospective projects to develop Turkmenistan’s transport and transit potential, promote the exporting of energy, and advance private sector operations.
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