The Asian Development Bank (ADB) is preparing a new Country Partnership Strategy (CPS) for Turkmenistan that will prioritize private sector development; developing human capital; and climate change,
ADB Vice-President Shixin Chen said in meetings with senior officials from the Central Asian nation, according to a bank press release available to Daryo.
"Our new CPS will expand our support into new areas and double-down on our existing work to help the government continue diversifying the economy and reposition the country as a trade and transit hub."
Under the new CPS for 2024–2028, ADB plans to extend its support to include small and medium-sized enterprises and start-ups, public–private partnerships, digital technology, exploration of Turkmenistan’s potential to tap solar energy, and the water management sector.
The new CPS will build on the bank’s existing areas of engagement, notably regional connectivity and improving economic diversification.
Since Turkmenistan joined ADB in 2000, the bank has committed about $635 million to improve the country’s energy and transport infrastructure.
The ADB-financed North–South Railway Project has helped to increase trade with other countries in the region. The ongoing National Power Grid Strengthening Project will improve the reliability and efficiency of Turkmenistan's transmission grid and support the nation’s electricity exports.
Credits: Eziz Boyarov, Ashgabat
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