ADB Country Director in Turkmenistan Artur Andrysiak in his speech highlighted key cooperation projects with Turkmenistan in the energy sector and new trends in financing taking into account climate action.
Since 2000 ADB helped Turkmenistan to diversify exports and increase regional connectivity to capitalize on the country’s vast energy resources and strategic location.
ADB and Turkmenistan are working on strategy projects which will help the country to become trade and transit hub and support further cooperation with the other countries which are part of the Central Asia Regional Economic Cooperation Program (CAREC).
Since 2000, ADB committed US $625 million for two investment projects in the energy and transport sectors and US $8 million in technical assistance grants.
This includes one ongoing project in the energy sector – National Power Grid Strengthening Project worth US $ 500 million. The project, committed in 2018, supports rehabilitation of 1,400 km of power transmission lines and 8 substations.
According to the head of the ADB mission, work is currently underway on the next Country Partnership Strategy for Turkmenistan for the period 2024-2028.
The strategy will be aligned with the national development priorities set out in the National Program of Socio-Economic Development of Turkmenistan for 2022-2052.
The Strategy will envisage the key visions, expressed by leadership of Turkmenistan, such as economic and export diversification; repositioning the country into a trade and transit hub through improved transport infrastructure and regional connectivity; private sector development; and strengthening cooperation with financial institutions, including ADB.
According to Andrysiak, the very important priority under the next CPS will be support for the climate action. In October 2021 ADB announced its ambition of elevating the climate financing for its developing member countries to US $ 100 billion for the period 2019-2030.
In this context ADB will work closely with the Government of Turkmenistan and other development partners and the private sector to support the efforts related to climate change mitigation and adaptation.
“We look forward for working with Turkmenistan and other development partners assist Turkmenistan to develop a sustainable, resilient energy system to foster inclusive economic growth and social development”, emphasized ADB Country Director. ///nCa, 28 October 2022