WB reveals timeframe for closing technical assistance project in Turkmenistan

Business Materials 3 May 2019 15:23 (UTC +04:00)

Baku, Azerbaijan, May 3

By Leman Zeynalova – Trend:

The technical assistance project of the World Bank (WB) in Turkmenistan is scheduled to close in July 2019, the Bank told Trend.

“Currently, the World Bank Group does not have any active country-specific projects, except for the ongoing technical assistance project with the Statistics Committee. The project is being implemented since 2017 and is scheduled to close in July 2019,” said WB.

World Bank said its program in Turkmenistan focuses on activities that aim to share World Bank Group’s international knowledge, experiences, and best practices.

“We are providing advisory services to the Government of Turkmenistan in the banking and financial sector as well as statistics. The latest program in this area was completed in December 2018. Our previous program focused on capacity building and knowledge transfer in the area of banking, financial sector, and statistics. We have been providing our support on corporate governance in the banking sector and strengthening macroeconomic statistics, among others. World Bank-funded advisory assistance has also supported the Statistical Committee on developing methodologies for the national welfare monitoring system,” said the Bank.

Regionally, the WB said it is working with the Central Asian countries to improve early warning of mountain hazards. “Turkmenistan is part of this initiative and has participated in a number of training and professional development programs on modeling, assessment, and forecasting of extreme weather events.”

“Under the Executive Committee of the International Fund for Saving the Aral Sea, we work with Turkmenistan on Central Asia Hydrometeorological Modernization Project and the Climate Adaptation and Mitigation Program for Aral Sea Basin,” said WB.

The World Bank said it continues to support the governments in the region in many sectors, including energy and transport. “The World Bank stands ready to provide support using global expertise and financial instruments available and applicable to Turkmenistan. “


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