Energy, Non-hydrocarbon Sector and Knowledge Sharing - three pillars of the new Turkmenistan-ADB partnership strategy
The Board of Directors of the Asian Development Bank has approved a full five-year Country Partnership Strategy for Turkmenistan, says ADB’s press release. The document, covering the period of 2017-2021, was adopted for the first time since Turkmenistan joined this financial institution in 2000. “Turkmenistan has made important progress in recent years and achieved upper middle-income status,” said Sean O’Sullivan, Director General of ADB’s Central and West Asia Department. According to him, ADB intends to cooperate with the government and people of Turkmenistan in the field of promoting the diversification of the energy market and the non-hydrocarbon sector of the economy, strengthening regional transport links. The Strategy identifies three following main lines of ADB’s support:
- 1) diversification of the hydrocarbon market and promotion of energy trade;
- 2) diversification of non-hydrocarbon sectors of the economy through investment in transport infrastructure in order to improve market interaction and financial support to the private sector, including small and medium-sized businesses;
- 3) knowledge work in the field of economic diversification and reforms.
