ADB launches new strategy to boost Turkmenistan's economy

Manila, Aug 28 The Asian Development Bank (ADB) launched a new country partnership strategy on Wednesday that will help Turkmenistan develop "a competitive, diversified, and knowledge-based economy driven by an innovative private sector."

The new plan, covering 2024-2028, commits the ADB to support the Central Asian nation's green transformation, including investments in energy efficiency, renewable energy, low-carbon pilot projects, and policy reforms, Xinhua news agency reported.

The ADB will also support the development of sustainable and integrated transport networks focusing on railways along key trade corridors, including the Central Asia Regional Economic Cooperation corridors.

The bank vows continued support for Turkmenistan's accession to the World Trade Organization while building an export-oriented private sector with wider access to capital for small and medium-sized enterprises.

To support the development of human capital, the ADB plans to help reform the country's health sector by improving access, quality, and the range of services available.

The bank will also support the development of skills in the health workforce, taking advantage of the young population and promoting entrepreneurship.

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