On June 25, 2024, on behalf of the President of Turkmenistan, the Chairman of the Board of the State Bank for Foreign Economic Affairs of Turkmenistan, Rahimberdy Jepbarov, took part in the third annual Development Forum in Vienna (Austria), organized by the OPEC Fund for International Development.

Within the framework of the Forum, which brought together more than 400 delegates, negotiations were held with the President of the OPEC Fund for International Development, Abdulhamid Alkhalifa. The parties discussed issues of further development and strengthening of long-term cooperation between Turkmenistan and the OPEC Fund.

As a result of the negotiations, in accordance with the order of the President of Turkmenistan, the “Country Partnership Framework Program” was signed between the Government of Turkmenistan and the OPEC Fund for International Development for the period 2024-2029.

The program is aimed at expanding bilateral cooperation with multilateral financial development institutions and includes the following areas:

1. Assessment and financing of priority projects in the fields of transport, industry, telecommunications, healthcare, banking and financial services, as well as other sectors.

2. Providing financing and technical support (grants) for the development of infrastructure in the city of Arkadag, the first “smart city” of the country, including technology parks, research centers, medical centers and other types of urban infrastructure.

3. Providing technical assistance for capacity building, knowledge and technology transfer.
This agreement is intended to further strengthen economic cooperation between Turkmenistan and the OPEC Fund for International Development