ASHGABAT, Turkmenistan, March 3. The current sovereign portfolio of Asian Development Bank (ADB) in Turkmenistan includes one loan in the amount of $500 million, Trend reports.
According to ADB, to date, ADB has committed 13 public sector loans, grants, and technical assistance totaling $632.6 million to Turkmenistan.
The bank noted that the cumulative loan disbursements to Turkmenistan amount to $484.71 million, which were financed by regular ordinary capital resources.
"The ADB has been a long-standing partner of the Government of Turkmenistan, providing assistance crucial to the country’s development needs. ADB helps the government improve transport infrastructure connectivity, diversify the economy, develop human capital and the private sector, and strengthen policy making capacity," bank stressed.
It was added that the bank is currently preparing projects in the health, finance, transport and energy sectors, and the ongoing National Power Grid Strengthening Project supports the establishment of an interconnected national transmission network to improve electricity supply.