Economic growth in Asia and the Pacific is expected to remain solid, although risks to the outlook are rising, according to a report by the Asian Development Bank (ADB). The region’s developing economies are forecast to grow 4.7% this year, a slight downward revision from a previous projection of 4.8%, according to Asian Development Outlook […]
ADB Supports Turkmenistan’s Development with $632.6 Million in Loans, Grants, and Technical Assistance
To date, ADB has committed 13 public sector loans, grants, and technical assistance totaling $632.6 million to Turkmenistan, says Bank’s updated fact sheet. In 2022, ADB topped up its transaction technical assistance portfolio by $225,000 to help prepare bankable projects in Turkmenistan. ADB advanced significantly with the processing of proposed projects including Improving Nursing Quality […]
ADB: Narrowing the flood and earthquake risk protection gap in Central Asia
With climate change set to exacerbate the frequency and severity of disaster events, Central Asia and South Asia face a growing risk protection gap. KEY TAKEAWAYS With climate change set to exacerbate the frequency and severity of natural hazards, Central Asia and South Asia face higher risk to lives and livelihoods. Pre-arranged disaster risk financing […]
Arkadag city opens up broad prospects for cooperation with multilateral institutions
About 300 representatives from Europe, Asia, the USA, CIS countries, international organizations and financial institutions took part in the International Investment Forum “Smart City Arkadag”. Representatives of the UN, UNIDO, ADB, in an interview with the Neutral Turkmenistan newspaper, shared on the emerging prospects in engagement with these international organizations in the light of the […]
ADB to assist five countries, including Turkmenistan, to mainstream gender in projects preparation
ADB approved US $ 350,000 worth subproject titled Mainstreaming Gender in Project Preparation for Armenia, Azerbaijan, Georgia, Kyrgyzstan, and Turkmenistan Subproject will support the preparation of projects in five countries, namely Armenia, Azerbaijan, Georgia, Kyrgyz Republic, and Turkmenistan. The technical assistance subproject outputs are as follows: country level gender information produced; preliminary gender design features […]
ADB to Expand Support for Turkmenistan — Vice-President Shixin Chen
The Asian Development Bank (ADB) is preparing a new country partnership strategy (CPS) for Turkmenistan that will prioritize private sector development; developing human capital, with a focus on women and girls; and climate change, ADB Vice-President Shixin Chen said in meetings with senior officials from the Central Asian nation this week. Tackling climate change is […]
Ashgabat OGT Conference on Environmental Aspects of Hydrocarbon Industry reaffirmed the key role of gas in the energy transition
nCa Report Natural Gas is the key to a low–carbon future Turkmenistan is preparing the 4th national report on climate change and is on the way to joining the Global Methane Pledge International institutions are ready to cooperate with Turkmenistan in the field of green development On 15 June 2023, Ashgabat hosted an International scientific […]
ADB: Unlocking Central Asia’s Economic Potential by Integrating into Global Value Chains
Zulfia Karimova, ADB Principal Regional Cooperation Specialist A free trade agreement could bring the economic and social development benefits of global value chains to Central Asia. Central Asia, despite its diverse economic composition and wealth, is poorly integrated into global value chains. This limits the region’s economic growth, competitiveness, and development opportunities. It is crucial […]
ADB Helps Connect Central Asian Countries — Independent Evaluation Report
The Asian Development Bank (ADB) has helped advance transport and energy connectivity among member countries of the Central Asia Regional Economic Cooperation (CAREC) Program, but progress on improving regional economic competitiveness, trade, and the supply of regional public goods in the subregion has been more limited, according to an independent evaluation report released today. Evaluation […]
ADB supports Turkmenistan in unlocking country’s potential as an important regional transport and transit hub
Asian Development Bank has been supporting Turkmenistan efforts to reposition the country as trade and transit hub through several initiates and projects in transport sector and this cooperation will continue to foster. This was evidenced from the presentation by Mr.Artur Andrysiak, ADB Country Director at the Ashgabat Conference devoted to international transport and transit corridors […]
ADB and Saudi ACWA POWER inked a loan agreement on the construction of two wind farms in Uzbekistan
The projects claim to be the largest in the field of wind development in the region The Asian Development Bank (ADB) and ACWA Power Company (ACWA) signed $174 million worth of loans to develop the Bash wind power and Dzhankeldy wind power plants, both located in the Bukhara region in Uzbekistan, ADB said. The financing […]
Gains in hydrocarbon production and exports spurred Turkmenistan’s economic recovery in 2022 – ADB says
Gains in hydrocarbon production and exports spurred economic recovery of Turkmenistan in 2022. Inflation remained in double digits, and the current account registered a large surplus. Growth will increase slightly in 2023 and moderate in 2024, says ADB’s flagship report’s April release – Asian Development Outlook (ADO). Here are some excerpts from Asian Development Outlook April […]
ADB Forecasts 4.8% Growth for Asia and Pacific in 2023 and 2024
The Asian Development Bank (ADB) forecasts faster growth for developing economies in Asia and the Pacific this year, as the continued easing of pandemic restrictions boosts consumption, tourism, and investment. The People’s Republic of China’s (PRC) reopening—as it pivots away from its zero-COVID strategy—is the main factor brightening the region’s growth prospects. Economies in Asia […]
ADB presented CAREC Advanced Transit System for the State Customs Service of Turkmenistan
Representatives of the Asian Development Bank in Ashgabat held a presentation for specialists of the State Customs Service of Turkmenistan on the CAREC Advanced Transit System (CATS) and Information Common Exchange (ICE). The meeting was organized within the framework of the Central Asian Regional Economic Cooperation (CAREC) program. CATS s is a regional transit system […]
ADB upgrades upward forecast for Central Asia and Caucasus
The subregional growth projection for the Caucasus and Central Asia in 2022 is raised from 3.9% in the September Update of Asian Development Outlook (ADO) 2022 to 4.8% for 2022, while the projection for 2023 remains unchanged at 4.2%, ADB said in a recent supplement to the ADO 2022. The upward adjustment for 2022 reflects […]
By the Numbers: Climate Change in Central Asia
From devastating floods in Pakistan to growing water scarcity in Central Asia, the impacts of climate change vary widely. The Central Asia Regional Economic Cooperation (CAREC) Program—a partnership of 11 countries from Central Asia, South Asia, the Caucasus, as well as Mongolia and the People’s Republic of China—is working to increase regional cooperation to help the region […]
Green Recovery, Food Security, and Clean Energy Cooperation Initiatives adopted by CAREC Ministers
The ministers from Azerbaijan, the People’s Republic of China (PRC), Georgia, Kazakhstan, the Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan met at the 21st CAREC Ministerial Conference on 24 November. This year’s Ministerial Conference was chaired and hosted virtually by China under the theme Revitalizing Regional Cooperation for a Green, Sustainable, and Inclusive Recovery. Countries in […]
ADB supports projects in the transport and energy sector of Turkmenistan
Since 2000, ADB has allocated US$ 625 million for two investment projects in the energy and transport sectors and US$ 8 million in technical assistance grants for Turkmenistan. This was announced by ADB Country Director to Turkmenistan Artur Andrysiak during his remarks at the international conference “International economic cooperation of Turkmenistan: experience and prospects for […]
Six Policy Reforms that can Strengthen Railways in Central Asia
Railways across the Central Asia Regional Economic Cooperation Program (CAREC) region must consider implementing key reforms that will make them more efficient and financially sustainable. A new study by the Asian Development Bank (ADB) assesses the state of CAREC railways and identifies opportunities for investment, commercialization, and reform. By implementing key reforms, railways across the […]
How Trade via Rail in Central Asia Can Mitigate the Energy and Climate Crises
Zulfia Karimova, Principal Regional Cooperation Specialist, ADB In a world where 90% of global trade is moved by sea, the landlocked economies of Central Asia almost exclusively rely on rail and road transport for trade. Much of the long-distance cargo moves via existing rail networks, which have substantial potential to facilitate trade in the region […]
ADB and Turkmenistan discuss cooperation in the fields of market diversification, energy and WTO accession support
On 30 July 2022, the Ministry of Finance and Economy of Turkmenistan hosted a meeting with the ADB Country Director for Turkmenistan Artur Andrysiak. The main purpose of the meeting was to discuss the prospects of bilateral cooperation. During the meeting, the minister for finance and economy of Turkmenistan Muhammetgeldy Serdarov noted that the partnership […]
Trade costs on the rise in Asia and the Pacific, but cuts in red tape could help bend the trend
The high cost of trade in Asia and the Pacific continues to rise, but ongoing efforts to facilitate commerce will help keep goods flowing throughout the region, according to a new report by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and the Asian Development Bank (ADB). Economies in the […]
CAREC Institute: How to increase COVID-19 vaccination trust in Central and West Asia
Elvira Kadyrova Since the WHO’s declaring Covid-19 pandemic, more than 1.6 billion doses of vaccine has been administered worldwide. The data give hope that the collective immunity developed as a result of immunization will stop the terrible virus. However, according to a CAREC Institute research survey conducted in Georgia, Kazakhstan, the Kyrgyz Republic, Mongolia, Pakistan, […]
Role of Turkmenistan in preparing Afghanistan for economic remake – Part 5
Tariq Saeedi The economic remake of Afghanistan, the central piece of which is the TAPI Corridor, cannot take place without solid and consistent financial support. The support doesn’t just comprise of monetary resources. It is perhaps even more important to make sure that the resources are spent in a transparent and most efficient manner. ADB […]
ADB President called CAREC countries for enhancing private sector and embracing digitalization to strengthen post-pandemic recovery
Elvira Kadyrova The CAREC region must strengthen digital connectivity and the use of digital technologies, so that regional and global initiatives can expand their reach, said ADB President Masatsugu Asakawa in his keynote address, welcoming the 19th Central Asia Regional Economic Cooperation (CAREC) Ministerial Conference on 7 December 2020. “There is also huge potential for […]
ADB’s grant to enhance electricity import and power supply in Afghanistan
Elvira Kadyrova The Asian Development Bank (ADB) today approved a $110 million grant to boost power supply and strengthen Afghanistan’s energy sector by improving its sustainability and promoting cross-border energy supplies from main Central Asian Suppliers. The project will facilitate the Afghan system’s synchronous operation with the Uzbek system and the Central Asia Power System […]
How does the COVID-19 shape CAREC’s future?
Elvira Kadyrova Virtual high-level session of CAREC Program at the 53rd Asian Development Bank (ADB) Annual General Meeting, which took place on 17 Sep, highlighted the benefits of better integration and policy harmonization for proceeding in post-Covid world. Heads and deputies of economy and finance ministries and departments of Afghanistan, Azerbaijan, Uzbekistan, Tajikistan, Turkmenistan, Kazakhstan, […]
ADB: Five Things to Know – Trends in Road and Railway Trade Efficiency in Central Asia
Samarkand city railway station. Photo: Relisa Granovskaya/ADB The efficient trade of goods across international borders is key to economic growth and poverty alleviation. This is particularly important in largely landlocked Central Asia where road and rail represent the two dominant modes of transporting goods across the region. Using data from shipments collected over the past […]
Turkmenistan Receives ADB-Funded Supplies to Stem COVID-19
Asian Development Bank funded diagnostic and laboratory supplies were provided to Turkmenistan’s health authorities on July 2020. The $300000-worth supplies comprising reagents and other testing items will contribute to the country’s response to COVID-19. ADB is supporting its developing members in responding to the COVID-19 outbreak through finance, knowledge and partnerships. /// nCa, 11 August […]
ADB’s financial support to alleviate the Covid-19 economic shock for small businesses and most vulnerable segments in two Central Asian countries
Elvira Kadyrova Women manage or own 42% and 40% of SMEs in Kazakhstan and Uzbekistan, correspondingly. The Asian Development Bank has approved a $ 1 billion assistance package for Kazakhstan and US $ 500 million loan for Uzbekistan. The funds are intended to mitigate the social and economic impact and COVID-19 caused burden on the […]
ADB expects deceleration in Central Asian economies amid continued Covid-19 crisis
Elvira Kadyrova ADB has published the supplement to its annual flagman economic report titled “Asian Development Outlook 2020 Supplement: Lockdown, Loosening, and Asia’s Growth Prospects”. The last Asian Development Outlook 2020 was released early April. So far, the number of COVID-19 cases worldwide has grown from less than 1 million to over 7 million. The […]
From macroeconomic policy dialogue to education: ADB President Nakao highlighted regional priorities under CAREC
Elvira Kadyrova “Under Strategy 2030, ADB will enhance connectivity and competitiveness, promote regional public goods, strengthen cooperation in the financial sector, and support subregional initiatives such as CAREC”, stated President of Asian Development Bank Takehiko Nakao during his opening address Thursday (14 Nov) at the 18th CAREC Ministerial Conference Cooperation in Tashkent. He emphasized that […]
ADB Vice President Visits Uzbekistan
TASHKENT, UZBEKISTAN (19 April 2019) — Asian Development Bank (ADB) Vice-President Mr. Shixin Chen has commended the government on its reform agenda and its management of the country’s transformation to a market-based economy during a 4-day visit to Uzbekistan from 16 to 19 April. Mr. Chen, who took office at ADB in December 2018 and […]
ADB forecasts moderate growth in Central Asia in near-term outlook
Elvira Kadyrova The growth in Central Asian will decelerate in 2019 after pick up in 2018, according to Asian Development Outlook-2019, ADB’s flagship report. Average growth in the sub-region [comprising Armenia, Azerbaijan, Georgia, Kazakhstan, the Kyrgyz Republic, Tajikistan, Turkmenistan, and Uzbekistan] rose from 4.2% in 2017 to 4.4% last year is projected to slow down […]
Panel discussion reveals solid successes of TAPI – Part 4
Ashgabat, 7 Nov—In the part 2 of this ongoing series (published in the Bulletin on 6 Nov) we misconstrued and inadequately reported the remarks of Cevdet Denizer, the country director in Turkmenistan of ADB. Here is the correct position, as received from ADB: “ADB has been involved in the project going back to 2003 when […]
Panel discussion reveals solid successes of TAPI – Part 1
nCa Report Ashgabat, 4 November 2017 (nCa) — The panel discussion was visibly convincing – as soon as it ended, the people who matter in the natural gas upstream and construction sector started lining up to hand their calling cards to the panelists and putting in a few words about what they can do for […]
TAPI opts for self propulsion – Turkmenistan to lead consortium
nCa News and Commentary Ashgabat, 7 August 2015 (nCa) — In a historic choice Thursday, Turkmenistan decided to act as the consortium leader for TAPI, the pipeline project that will transport Turkmen gas to Pakistan and India through the territory of Afghanistan. During the 22nd meeting of the steering committee of TAPI, a ministerial level […]
TAPI technical group, steering committee to meet in Ashgabat
nCa News and Commentary Ashgabat, 5 July 2014 (nCa) — The Technical Working Group of TAPI (Turkmenistan-Afghanistan-Pakistan-India gas pipeline project) will meet in Ashgabat, 6-7 July 2014. This would be followed by the meeting of the Steering Committee, 8-18 July 2014. The agenda covers several important issues including the refining of the roadmap, creation of […]
Asia Must Take Radical Steps Towards Clean Energy: ADB President
MANILA, PHILIPPINES, 22 June 2011 — With an energy crisis looming, Asian Development Bank (ADB) President Haruhiko Kuroda today called on Asian nations to “take radical steps” to increase energy efficiency and invest in renewable energy. Asia and the Pacific’s strong economic growth and its increasing population are generating the world’s fastest growing demand for […]
$55 Million ADB Loan for CAREC Highway Linking Kyrgyz Republic and PRC
MANILA, PHILIPPINES, 8 June 2011 — The Asian Development Bank (ADB) has approved a $55 million loan to finance improvements to a key highway connecting the Kyrgyz Republic with the People’s Republic of China (PRC). The 60-km stretch to be reconstructed is part of the Central Asian Regional Economic Cooperation (CAREC) Program. The program covers […]
CAREC 2020: Boosting Trade, Transport and Energy in Central Asia
BAKU, AZERBAIJAN, 8 June 2011 — Senior officials from the 10 member countries of the Central Asia Regional Economic Cooperation (CAREC) Program, met today in Baku, Azerbaijan, and moved towards completing a strategic framework that over the next decade will help further develop regional transport networks, boost regional trade, and help secure reliable, efficient energy. […]
ADB: Wider Solar Power Use Critical for Asia
BANGKOK, THAILAND, 30 May 2011 – Asia must expand solar energy generation if the region is to stay on its strong economic growth path and reduce carbon emissions, Asian Development Bank (ADB) Vice-President (Operations 1) Xiaoyu Zhao said today. Mr. Zhao was speaking here at the opening of the 3rd meeting of the Asia Solar […]