The President of Turkmenistan met with the President of the Asian Development Bank

Today, President Serdar Berdimuhamedov received the President of the Asian Development Bank (ADB), Masatsugu Asakawa, who arrived in our country on a working visit.

The guest expressed gratitude for the warm welcome and emphasized Turkmenistan’s important role in strengthening peace and stability in Central Asia. He also highly appreciated ADB’s cooperation with Turkmenistan in implementing large-scale reforms aimed at diversifying the national economy.

The Head of State warmly welcomed the head of the major financial institution, expressing confidence that this visit would contribute to the further development of bilateral economic cooperation and wished him fruitful negotiations.

President Serdar Berdimuhamedov stated that Turkmenistan attaches great importance to expanding international cooperation, particularly with reputable financial institutions and banking structures. He noted that the partnership between Turkmenistan and the ADB has been productive for many years. Over the past 25 years, the ADB has financed several projects in Turkmenistan in areas such as power engineering, infrastructure, and railways, contributing significantly to the country’s sustainable socio-economic development. Currently, bilateral relations are being developed within the framework of the ADB Country Partnership Strategy. Projects implemented under the Central Asia Regional Economic Cooperation (CAREC) program are helping to develop Turkmenistan’s economy, trade, transport, and energy sectors, as well as improve professional training.

Particular attention is being paid to improving healthcare services, constructing modern medical centers, and raising the qualification level of medical professionals.

The President emphasized that Turkmenistan supports the introduction of new and effective forms of cooperation between the ADB, domestic banks, and the private sector. Special importance is attached to financial and advisory support for small and medium-sized businesses.

It is noteworthy that on May 17 of this year, a Memorandum of Understanding was signed between the State Committee for the Construction of the City of Arkadag under the President of Turkmenistan and the ADB. This document opens new opportunities for cooperation in energy efficiency, water and energy saving, and renewable energy development within the framework of the “smart city” concept of Arkadag. Strengthening cooperation in the fuel and energy sector was also identified as a priority area.

At the end of the meeting, President Serdar Berdimuhamedov and ADB President Masatsugu Asakawa expressed confidence that mutually beneficial cooperation would continue to expand and exchanged best wishes.

During Masatsugu Asakawa’s visit, a number of meetings were held. As a result, an Agreement between Turkmenistan and the ADB was signed to finance the construction of a medical college in Ashgabat, as well as a Memorandum of Understanding between the Ministry of Health and Medical Industry of Turkmenistan and the ADB on technical cooperation.