ADB invites Turkmenistan to participate in high-level meeting of CAREC Program
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By Trend
The Asian Development Bank (ADB) has invited Turkmenistan to become one of the participants of the high-level meeting within the framework of the Central Asia Regional Economic Cooperation (CAREC) program,Trend reports with reference to the Arzuw NEWS agency.
The invitation was made by Safdar Parvez, Principal Planning and Policy Economist with ADB’s Strategy and Policy Department, to Minister of Finance and Economy of Turkmenistan Muhammetgeldi Serdarov during a joint meeting.
The meeting will be held on May 4, 2021, during the 54th session of the ADB Board of Governors. The main topic of the meeting will be the digitalization of the economy and its importance for improving the efficiency of cooperation in the region.
The necessity to develop a regional partnership in the field of health protection in the post-pandemic period was noted.
At the same time, the sides stressed the need to create new economic corridors, as well as improve transport links, which will make it possible to accelerate the development of entrepreneurship and increase the number of jobs in the region.
Thus, the strengthening of the regional macroeconomic situation will also contribute to an increase in the level of coordination of monetary and tax policies.
As earlier ADB told Trend, the bank is discussing with Turkmenistan to expand its sector coverage to include small and medium enterprise (SME) financing through local banks, training of nurses and paramedical workers, and railway development.
ADB’s plans to expand the mentioned sector are aside from implementing the ongoing power grid strengthening project and preparing the TAPI Gas Pipeline Project.
Speaking about the Tajikistan-Afghanistan-Turkmenistan railway (TAT) project ADB noted that the bank has yet to extend any investments specifically for the TAT.
"ADB continues to be actively engaged in discussions with all of its developing member countries on their priority projects including for railways, and remains open to providing support for those projects which are economically viable and financially sustainable," said ADB.
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