A round table dedicated to the 25th anniversary of cooperation between Turkmenistan and the Asian Development Bank (ADB) was held at the Ministry of Foreign Affairs of Turkmenistan on June 24.

The round table was attended by Vice-Chairmen of the Cabinet of Ministers of Turkmenistan, heads of relevant ministries and departments of the country, banking structures, an ADB delegation headed by Vice President for South, Central and West Asia Yang Yingming, as well as experts in the field of economics and development.

Vice-Chairmen of the Cabinet of Ministers of Turkmenistan Hojamyrat Geldimyradov noted the constructive nature of 25 years of cooperation with ADB, which has made an important contribution to the development and strengthening of the economy of our country. Among the priority areas of cooperation, such areas as energy, transport, urban development and strengthening the private sector of Turkmenistan were noted.

In his speech, ADB Vice President Yang Yingming especially noted that the long-term partnership with Turkmenistan is based on mutual trust and respect. He also emphasized the importance of the meeting with the President of Turkmenistan Serdar Berdimuhamedov, which took place the day before in Ashgabat.

During the round table, information was provided on new projects between Turkmenistan and the ADB. In particular, the importance of the projects planned for implementation in the "smart" city of Arkadag was noted. This was emphasized at the meeting of the Chairman of the Halk Maslahaty of Turkmenistan with the ADB representative in May in the city of Arkadag. In this regard, the importance of the Memorandum of Understanding between the State Committee for the Construction of the City of Arkadag under the President of Turkmenistan and the ADB, signed during this meeting, was noted.

The participants of the round table discussed the prospects for partnership between Turkmenistan and the ADB, including in such areas as financing infrastructure projects, supporting the private sector, developing human capital and sustainable development.

Particular attention was paid to the diversification of the energy sector of Turkmenistan, the modernization of railway transport and the development of small and medium-sized businesses with the support of ADB financial and credit services. Emphasizing the constructive nature of the country's interaction with the ADB, the participants noted that the bilateral partnership is currently being implemented within the framework of the Cooperation Strategy with Turkmenistan for 2024-2028.

The event became an important platform for summing up the interaction between Turkmenistan and the ADB over a quarter of a century and identifying new areas for further cooperation.

After the round table, the Protocol of Agreement between the Central Bank of Turkmenistan and the ADB on lending for the project to build a medical vocational school in Ashgabat was signed.