ADB issues loan to increase export of Turkmen electricity
By Trend
The Asian Development Bank (ADB) and the government of
Turkmenistan signed a $500 million loan to strengthen
Turkmenistan’s transmission network, improve the reliability of
the
country’s power supply, and increase electricity exports to
neighbouring countries.
The signing was witnessed by ADB President Mr. Takehiko Nakao and
the Deputy Chairman of the Cabinet of Ministers (Economy and
Finance) Mr. Gochmyrat Myradovon at the sidelines of the 17th
Central Asia Regional Economic Cooperation (CAREC) Ministerial
Conference held in Ashgabat, Turkmenistan, ADB said in a
message.
The National Power Grid Strengthening Project is the first project by any international financial institution in the power sector in Turkmenistan. It will cover four of the country’s five regions and help establish an interconnected national transmission grid to improve reliability and energy efficiency of the network.
It will also boost Turkmenistan’s capacity to trade electricity with Kazakhstan, the Kyrgyz Republic, Pakistan, Tajikistan, and Uzbekistan, and increase the volume of current electricity exports to Afghanistan.
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