ASHGABAT, Turkmenistan, September 18. ADB's provision of knowledge solutions will remain an integral part of future investment projects in Turkmenistan, Trend reports.
According to the Asian Development Bank (ADB) fact sheet, one example is the proposed financial-intermediation-loan project, which envisages knowledge assistance for commercial lenders that will enhance their skills in marketing and underwriting small and medium-sized enterprise credit, thereby making commercial lenders more accessible to privately owned businesses.
It was noted that knowledge products and services are part of most of ADB’s lending operations in Turkmenistan.
"For example, technical assistance on improving energy efficiency and capacity under the National Power Grid Strengthening Project helped the state-owned utility develop an energy efficiency road map, implement the IFRS, and ensure project management skills transfer," the ADB said.
ADB notes that the bank is a long-standing partner of the government of Turkmenistan, providing assistance crucial to meeting the country's development needs.
"ADB is helping the government to improve the connectivity of transport infrastructure, diversify the economy, develop human capital and the private sector, and strengthen policy development capacity. Currently, the bank is preparing projects in the healthcare, finance, transport, and energy sectors," the bank noted.
Meanwhile, cooperation between the Asian Development Bank (ADB) and Turkmenistan is an important and long-term partnership aimed at supporting the economic and social development of Turkmenistan as well as strengthening its position in the Central Asian region.