ADB outlines new 5-year country partnership strategy for Turkmenistan

The Asian Development Bank (ADB) has presented a new 5-year country partnership strategy for Turkmenistan for 2024-2028. The strategy is aimed at supporting Turkmenistan's integration into international markets, stimulating private sector growth, strengthening human capital and economic reforms. This is reported by the publication "Business Turkmenistan" with reference to the press service of the bank.

The new strategy will emphasize Turkmenistan's transition to low-carbon energy. ADB intends to assist in improving transport infrastructure, economic diversification, and human capital and private sector development in the country. The new strategy will also support SMEs, startups, public-private partnerships, digital technologies, solar energy, and the water sector.

According to the ADB representative, this demonstrates the bank's continued commitment to supporting Turkmenistan's development in key sectors such as health, finance, transport, and energy. Specific initiatives include improving the health system, providing access to finance for businesses, modernizing transport connectivity, and building renewable energy capacity.

The new country partnership strategy has been developed as Turkmenistan continues to work to diversify its economy and attract foreign investment. ADB will provide technical and financial assistance to achieve the country's development goals over the next 5 years.

Photo: cgdev.org