UNDP, Turkmenistan, Mexico and IFIs discuss capital markets and stock exchange

11:1627.11.2020
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UNDP, Turkmenistan, Mexico and IFIs discuss capital markets and stock exchange

Ashgabat, 25 November 2020: An online high level information session on the development of capital markets in Turkmenistan was conducted within the coordination of the United Nations Development Programme (UNDP) and the State Bank for Foreign Economic Affairs of Turkmenistan.

The event brought together representatives of the United Nations Development Programme, Ministry of Finance and Public Credit of Mexico, International Financial Institutions such as Asian Development Bank, and European Bank for Reconstruction and Development. The government delegation was led by the Minister of Finance and Economy of Turkmenistan and composed of the representatives by, the Ministry of Finance and Economy, the State Insurance Organization, the Main State Service "Turkmenstandartlary", and "Turkmenistan", "Turkmenbashi", "Dayhanbank" State Commercial Banks of Turkmenistan, "Halkbank" and “Senagat” Joint-Stock Commercial Banks of Turkmenistan, the Closed Joint Stock Company "Atiyachlandyrysh Hyzmatlary" and Ashgabat Stock Exchange. The Chairman of the Board of the State Bank for Foreign Economic Affairs moderated the event.

During the online meeting participants were presented with global experience in developing capital market and stock exchange, SDG bond framework championed by the government of Mexico and UNDP’s support in creating this innovative and unique financial instrument. Participants also discussed the national vision for development of capital market in Turkmenistan and Ashgabat stock exchange.

 “The well-functioning capital markets can play an important role in achieving Sustainable Development Goals through mobilizing the private capital for development. This is well illustrated by the SDG bond framework, presented at today’s meeting by the representatives of Ministry of Finance and Public Credit of Mexico and UNDP. In Turkmenistan, we are glad to start discussion about cooperation on supporting the Ashgabat Stock Exchange and capital markets for sustainable development”, noted Ms. Natia Natsvlishvili, UNDP Resident Representative a.i.

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