The Ministry of Foreign Affairs of Turkmenistan held an international seminar on financing the implementation of the Sustainable Development Goals.
The large-scale online forum initiated by President Gurbanguly Berdimuhamedov brought together the heads of financial institutions of the countries, members of the United Nations Special Programme for the Economies of Central Asia (SPECA) - Azerbaijan, Afghanistan, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan and Turkmenistan, as well as the representatives of the United Nations Organization, including its structures - UNECE, UNFPA, UNDP, UNICEF and others.
The representatives of the International Monetary Fund, the World Bank, the Asian Development Bank, the European Bank for Reconstruction and Development, the Islamic Development Bank, the Organization for Economic Cooperation and Development, the European Commission of the CAREC Institute, and ESCAP participated in the meeting.
On behalf of the head of state, the international seminar was organized by the Ministry of Finance and Economy of Turkmenistan jointly with the relevant ministries and departments of the country, as well as the UN Development Program and other agencies.
The seminar included four sessions. So, the first session focused on the results of the informal meeting of the Financing for Development Forum of the United Nations Economic and Social Council (ECOSOC) to mitigate the socio-economic impact of the COVID-19 pandemic.
The macroeconomic impact of the pandemic and its consequences for macroeconomic policy, the results of the First Caspian Economic Forum held in Turkmenbashi on August 12, 2019, as well as the International Conference “Partnership for Financing Development in the Heart of the Great Silk Road” held on June 20-21, 2018 in Ashgabat were discussed during the meeting.
The experience of the countries of the region in mitigating the negative impact of the pandemic and in creating national integrated financing mechanisms was presented and analyzed during the second session. The third session focused on the regional assistance in overcoming the socio-economic crisis caused by the pandemic, and the role of international financial institutions, their strategy and activities. The fourth session was devoted to subregional SDG financing instruments.
After discussions and exchange of views, joint steps were agreed, including those initiated by Turkmen leader Gurbanguly Berdimuhamedov to overcome the difficulties of an economic, social and financial nature caused by the COVID-19 pandemic.
The forum participants underlined the importance of urgent measures to address the socio-economic consequences crisis and support vulnerable groups.
With the reference to the Ashgabat Initiative on the reduction of barriers to trade and transport in the region through the use of UN legal instruments, norms, standards and recommendations, while strengthening interconnectedness in the SPECA countries, participants of the current forum paid special attention to the development of international transport communications for building supply chains to recover national economies, especially in landlocked countries.
In this regard, the forum participants supported the initiative put forward by the President of Turkmenistan, Gurbanguly Berdimuhamedov with the aim to create legal mechanisms to ensure sustainable and reliable international options for creating such a fund.
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