ADB to allocate $1B to Turkmenistan
The planned loan program of the Asian Development Bank (ADB) for Turkmenistan for 2016-2017 is estimated at $1 billion and will be directed to the projects on development of railway corridors, production and supply of electricity.
The ADB supports the country's national development program since the beginning of its cooperation with Turkmenistan in 2000, Director General of ADB's Central and West Asia Department Sean O'Sullivan told in his interview with Neutral Turkmenistan newspaper.
Considering the enormous energy resources and advantageous geopolitical location of Turkmenistan, the ADB's activities focus on the areas of transport and energy, private sector's development, knowledge and technology transfer, capacity-building, said O'Sullivan.
"The current project supported by the ADB on the North-South railway is a good example for our partnership with Turkmenistan," he added.
This project supports expansion and improvement of the railway system, which links Turkmenistan with Kazakhstan and Iran, improves the movement of passengers and goods and helps to expand regional trade.
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