ASHGABAT, Turkmenistan, March 6. A delegation from the European Bank for Reconstruction and Development (EBRD), led by Managing Director of the Financial Institutions Department Francis Malige, arrived in Turkmenistan to assess the needs of the local banking sector and identify new areas for partnership, Trend reports, via the Ministry of Foreign Affairs of Turkmenistan.
During a meeting with Turkmenistan’s Deputy Minister of Foreign Affairs, Myakhri Byashimova, both sides highlighted their longstanding and productive cooperation, which has led to the successful implementation of over 80 projects. These initiatives have focused on supporting trade, manufacturing, and the growth of small and medium-sized enterprises in the country.
The participants also discussed the EBRD's priority areas of
activity in Turkmenistan, particularly focusing on export
orientation, cooperation with the banking sector, and the promotion
of modern banking practices.
As part of further cooperation, the parties reviewed the
preparation of the EBRD’s country strategy for the upcoming
period.
Turkmenistan and the EBRD have had a long-standing partnership since 1992, focusing on economic growth, banking reform, and private sector development. The cooperation has led to significant improvements in trade, infrastructure, and financial systems.