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Turkmenistan, JBIC look to expand co-op in new directions

Finance Materials 23 April 2020 14:45 (UTC +04:00)
Turkmenistan, JBIC look to expand co-op in new directions

BAKU, Azerbaijan, April 23

Trend:

Turkmenistan and Japan Bank for International Cooperation (JBIC) has expressed interest in expanding the cooperation in new directions, Trend reports with reference to Turkmenistan Today State News Agency.

The issue was discussed between Turkmenistan and JBIC via the videoconference format.

The participants noted the effectiveness of jointly implemented projects in various areas. The loan agreements between the state Bank for Foreign Economic Activity of Turkmenistan and JBIC testify to this. The agreement was signed to finance the construction of major facilities in the oil and gas industry, electric power and chemical industries in Turkmenistan.

The sides discussed issues of collaboration in the field of agriculture and water management, the use of advanced technologies and Japan's experience in preventing mudslides and diverting them from settlements.

Special attention was paid to the development of new forms of partnership between the Japanese Bank and the government, as well as Turkmenistan’s banking structures. JBIC aims to create business opportunities for Japanese companies in various sectors through investments. This contributes to the strengthening of dialogue.

The implementation of joint plans will serve dynamic development of Turkmenistan’s economy by diversifying the fuel and energy sector.

A loan agreement was signed between the state Bank for Foreign Economic Activity of Turkmenistan and JBIC on September 12, 2013. This agreement provided for financing the construction of a workshop for the production of sulfuric acid monohydrate in the city of Turkmenabat of the Turkmenchimiya State Concern.

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