ADB is ready to become a long-term partner of Turkmenistan

11:4217.01.2020
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ADB is ready to become a long-term partner of Turkmenistan

The Asian Development Bank (ADB) is ready to support Turkmenistan's projects in the field of power lines and the TAPI gas pipeline, said Chang Chin Yu, ADB's Director for Turkmenistan, in an interview with representatives of the Turkmen press, according to “BT”.

The goal of such cooperation is to diversify the country's economy and turn Turkmenistan into an important link in regional cooperation. Many projects have already been implemented to achieve these strategic goals, and work on them continues.

Cooperation between ADB and Turkmenistan began in 2000. In November 2018, ADB adopted a work plan in Turkmenistan for 2019-2021, which includes providing a loan of $ 150 million, as well as providing financial support of $ 690 million for the country's transport and transit corridors, export direction, and private sector development projects.

Chang Chin Yu in particular outlined the immediate future:

"According to the program of cooperation between Turkmenistan and ADB in 2020-2022, we plan to implement such important tasks as supporting the country's power lines, including the Turkmenistan-Afghanistan-Pakistan-India gas pipeline, improving work in the railway sector, increasing the volume of loans provided to small and medium-sized businesses through local banks, and promoting the development of the health sector."

Turkmenistan, located in a favorable geopolitical and geo-economic zone and possessing huge reserves of natural resources, plays an important role in ensuring peace and sustainable development in the region.

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