Ashgabat, Turkmenistan, Sept. 26
By Huseyn Hasanov – Trend:
The Asian Development Bank (ADB) has approved the country operations business plan for 2019-2021 for Turkmenistan, Trend reports with reference to the bank.
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.
ADB’s country partnership strategy for Turkmenistan aims to help the country become a catalyst for regional cooperation and integration by diversifying its markets and repositioning itself as a trade and transit hub.
The Asian Development Bank 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.