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By Trend

The Turkmen Finance Ministry and the World Bank (WB) signed an agreement on rendering paid consulting services in the financial sector and macroeconomics, the Turkmen Dovlet Khabarlary state news agency (TDH) reported on October 14.

According to the message, the signing ceremony took place as part of at the annual meeting of the IMF and WB Group's Boards of Governors.

“The activities planned to be held in accordance with this document are aimed at supporting the business model and corporate governance reform in the banking sector and facilitating the development of the credit reporting system,” the message said.

According to the message, the activities are also aimed at assessing national risk in the field of combating money laundering, financing of terrorism and strengthening of macroeconomic statistics.

The investments are planned to be made and consulting services are planned to be rendered to the Turkmen private financial institutions and companies as part of the agreement, the message said.

"The adopted document testifies to Turkmenistan’s systematic approach to gradually bring the financial sector and macroeconomic accounts in accordance with the international standards," TDH cited Cyril Muller, WB vice-president for Europe and Central Asia, as saying.

TDH draws attention to the fact that IFC has expressed its readiness to provide support for foreign direct investments through loans and other financial instruments.

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