The Asian Development Bank (ADB) has launched a new country partnership strategy for Turkmenistan to help the country develop a competitive and diversified economy, the bank’s country office said.

Under the new strategy, which covers the period 2024–28, ADB’s assistance will focus on three strategic priorities: supporting the green transition to a sustainable and climate-resilient economy; enhancing economic competitiveness through diversification, with a focus on the private sector and human capital; and promoting structural reforms and institutional development.

The new strategy will include support for the country’s green transformation, including investments in energy efficiency, renewable energy, low-carbon pilot projects, and policy reforms. The Bank will continue to help Turkmenistan develop long-term decarbonization plans and reduce methane emissions in line with the country’s climate change goals.

 The Bank will help develop an export-oriented private sector and continue to support domestic financial institutions, including to improve access to capital for small and medium enterprises targeting export markets. ADB will also continue to support Turkmenistan’s accession to the World Trade Organization.