Turkmenistan, EBRD Deepen Strategic Partnership with Five New Cooperation Agreements
Ashgabat, The Gulf Observer: Turkmenistan and the European Bank for Reconstruction and Development (EBRD) have reaffirmed their commitment to expanding bilateral cooperation by signing five Memoranda of Understanding (MoUs) aimed at supporting economic diversification, sustainable development, banking sector reforms, and transport infrastructure modernization.
The agreements were signed following a meeting on July 28 between Turkmenistan’s Minister of Foreign Affairs, Rashid Meredov, and EBRD President Odile Renaud-Basso at the Ministry of Foreign Affairs of Turkmenistan.
During the talks, both sides noted that cooperation between Turkmenistan and the EBRD continues to develop steadily, with the Bank supporting the country’s economic diversification strategy, promotion of green energy, regional connectivity, and the adoption of environmentally friendly technologies.
The meeting also highlighted the EBRD’s continued commitment to supporting the development of small and medium-sized enterprises (SMEs) in Turkmenistan, recognizing their importance in strengthening the country’s private sector and sustainable economic growth.
The two sides reviewed prospects for joint projects in transport and logistics infrastructure, with particular attention given to advancing regional transport corridors, including the Trans-Caspian Corridor, which is expected to enhance regional connectivity and trade.
Foreign Minister Rashid Meredov emphasized that Turkmenistan attaches great importance to the consistent implementation of economic reforms and the attraction of international expertise and investment. He expressed appreciation for the EBRD’s support in implementing the country’s national and regional development priorities.
For her part, EBRD President Odile Renaud-Basso praised Turkmenistan’s dynamic socio-economic development and reaffirmed the Bank’s readiness to further deepen its productive dialogue with the country and participate in new institutional and infrastructure projects.
The meeting concluded with both sides reaffirming their mutual commitment to expanding cooperation and identifying practical steps for implementing their shared priorities.
Following the meeting, a formal signing ceremony was held for five Memoranda of Understanding covering key areas of cooperation.
The first agreement, signed between the Central Bank of Turkmenistan and the EBRD, outlines the Bank’s strategic priorities in Turkmenistan for the period 2027–2032.
A second MoU between the Central Bank and the EBRD establishes a strategic partnership to strengthen the banking sector, promote export-oriented growth, and support the diversification of Turkmenistan’s economy.
Another agreement, involving the Ministry of Environmental Protection, the Ministry of Energy, the State Concerns Turkmengaz, Turkmennebit, and Turkmenhimiya, together with the EBRD, focuses on cooperation in sustainable energy, environmental protection, and efficient water resource management.
A fourth memorandum, signed by the Ministry of Railway Transport, the Ministry of Automobile Roads, and the EBRD, provides a framework for cooperation on modernizing transport corridors and enhancing Turkmenistan’s transit potential.
The fifth agreement was concluded between the Ashgabat City Administration and the EBRD to support cooperation under the Bank’s Green Cities Programme, aimed at promoting sustainable urban development and environmental resilience.
The newly signed agreements are expected to further strengthen Turkmenistan’s partnership with the EBRD while advancing the country’s long-term objectives in green development, economic modernization, transport connectivity, and institutional reform.
