On March 14, 2024, President Serdar Berdimuhamedov received the Vice President of the European Bank for Reconstruction and Development (EBRD) Mark Bowman.

The EBRD Vice-President noted that the targeted measures implemented in our country to improve the national financial and banking system and comprehensive programs in various sectors make it possible to ensure economic stability and maintain high rates of development.

The President of Turkmenistan, emphasizing that Turkmenistan attaches special importance to strengthening mutually beneficial international cooperation, including productive ties with reputable financial institutions and banking structures, expressed confidence that the upcoming negotiations of the EBRD Vice-President with Turkmen colleagues will contribute to the further development of bilateral economic relations.

During the exchange of views on priority aspects of interaction, the effective and long-term nature of cooperation between Turkmenistan and the EBRD was stated. Considering that new promising areas of partnership are opening up, the readiness of Turkmenistan, which has rich natural resources, to diversify cooperation in the energy sector was outlined.

It was also noted that our country is taking consistent steps to introduce environmentally friendly technologies into the industry and develop “green” energy, which open up wide opportunities for the EBRD’s participation in projects and initiatives in the field of sustainable energy implemented in Turkmenistan.

Transport was also noted as a promising area of cooperation, in particular, through the activation of international routes along the Caspian Sea and the development of the transport and logistics system in the region, taking into account the favorable geographical location of our country. The work on creating multi-vector transport corridors North-South and East-West and the presence of great potential for increasing the capacity of the Turkmenbashi International Seaport were also noted. In this context, the head of state confirmed Turkmenistan’s readiness to consider specific proposals from the EBRD for participation in projects to create transport and transit corridors.

Continuing the conversation, the issue of cooperation in the field of agriculture and water management was raised, within the framework of which Turkmen departments are working with the EBRD on the construction of irrigation structures and the use of high-tech specialized equipment.

In addition, the parties paid attention to the issues of intensifying cooperation between banks and the private sector of our country with the EBRD in the field of lending to small and medium-sized businesses and providing consulting services in this area.