Work is underway between Turkmenistan and the European Investment Bank (EIB) to establish the necessary legal framework for developing investment cooperation.

On September 3, organized by the European Union Delegation to Turkmenistan, interagency online consultations were held dedicated to coordinating the text of the framework agreement with the EIB.

The meeting was attended by representatives of the Ministry of Finance and Economy, the Central Bank, the Ministry of Justice, and the Supreme Court of Turkmenistan. From the European side, specialists from the EIB headquarters, the EU Delegation in Ashgabat, and the EIB Regional Office for Central Asia in Tashkent joined the discussions.

The conclusion of the framework agreement is one of the necessary legal conditions for the European Investment Bank to launch official operations and lending activities in Turkmenistan. Proper formalization of the agreement will expand the country's opportunities to attract European financial resources and modern technologies to major investment projects.

In the future, the main areas of cooperation are expected to include the modernization of transport and logistics infrastructure, the digitalization of the economy, the development of renewable energy sources, and the introduction of environmentally compliant technologies.

The activation of the European Investment Bank in Turkmenistan also aligns with the objectives of the European Union's "Global Gateway" strategy, aimed at developing economic cooperation with Central Asian countries.

The creation of a legal framework for cooperation could open up new opportunities for developing long-term investment relations between Turkmenistan and European financial institutions.