ADB Expands Support for Turkmenistan

BUSINESS TURKMENISTAN
ADB Expands Support for Turkmenistan
The Asian Development Bank headquarters in Manila, Philippines (Photo:www.flickr.com)

The Asian Development Bank (ADB) is developing a new strategy for Turkmenistan (CPS) that will focus on private sector development, human capital development, and climate change, ADB reports on its official website on Friday, citing the Vice-President Shixin Chen.

During his 5-day visit, Mr. Chen met with ADB Governor and Chairman of the Central Bank of Turkmenistan Toyly Malikov, Vice Premiers Baymyrat Annamammedov and Hojamyrat Geldimyradov, and Director General of the Transport and Communications Agency under the Cabinet of Ministers of Turkmenistan Mammethan Chakyyev, among other officials.

The upcoming new Country Partnership Strategy (CPS) for 2024–2028 will support small and medium-sized enterprises and start-ups, public–private partnerships, digital technology, solar energy exploration, and the water management sector.

The Asian Development Bank (ADB) has provided Turkmenistan with about $635 million since the country joined the bank in 2000. The funding has been used to improve the country's energy and transport infrastructure.

On his visit to Turkmenistan, Mr. Chen reviewed the National Power Grid Strengthening Project, which will construct 1,100 kilometers of 110 kV, 220 kV, and 500 kV transmission lines, as well as build four new substations and expand three existing ones across four the five regions. This will improve the reliability and efficiency of the nation's transmission grid, as well as support its electricity exports.

Moreover, the Vice President also traveled by rail from Ashgabat to Dushak in the Garagum Desert, where he met with railway officials and observed the station's control room. ADB is considering a project to modernize railroad systems in Turkmenistan, including the 170-kilometer Ashgabat-Dushak stretch of the primary railway corridor, which will increase the top speed of both passenger and freight trains.

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2022