BAKU, Azerbaijan, October 14. Turkmenistan’s Foreign Minister Rashid Meredov and Asian Development Bank (ADB) Director General for Central and West Asia Leah Gutierrez have discussed prospects for expanding cooperation between the country and the bank.
This was reflected in a press release published by the Ministry of Foreign Affairs of Turkmenistan following the meeting held in Ashgabat yesterday.
According to the publication, the sides reviewed the current state of cooperation and exchanged views on relevant issues concerning the partnership between Turkmenistan and the ADB.
Particular attention was paid to promising areas of cooperation, the exchange of experience on regional issues, and opportunities to implement joint initiatives of mutual interest.
"The parties also discussed ways to further strengthen their partnership, taking into account current economic trends and newly emerging opportunities for expanding multilateral cooperation," the report says.
At the conclusion of the meeting, both sides reaffirmed their interest in continuing constructive dialogue and further strengthening mutually beneficial cooperation between Turkmenistan and the ADB.
For reference, the Asian Development Bank (ADB) has been cooperating with Turkmenistan since 2000 and has committed about $636 million in sovereign loans, grants, and technical assistance projects. The bank's support has focused on transport, energy, economic diversification, and regional connectivity. One of its largest ongoing initiatives in the country is the $500 million National Power Grid Strengthening Project, aimed at modernizing transmission infrastructure and improving the reliability of electricity supply.
Turkmenistan is also an active participant in the Central Asia Regional Economic Cooperation (CAREC) Program, ADB's flagship regional platform for transport and trade connectivity. Under its 2024-2028 Country Partnership Strategy, the bank plans to expand cooperation with Turkmenistan in green energy, climate resilience, transport infrastructure, private-sector development, and economic reforms, making ADB one of the country's most important multilateral development partners.
