TURKMENISTAN, EBRD SIGN FIVE COOPERATION MEMORANDUMS

Turkmenistan and the European Bank for Reconstruction and Development (EBRD) signed five memorandums of understanding covering the banking sector, sustainable energy, environmental protection, water resource management and transport corridor development following talks between Turkmenistan’s Foreign Minister Rashid Meredov and EBRD President Odile Renaud-Basso on July 28.

During the meeting, the sides noted cooperation between Turkmenistan and the EBRD continues to expand. They noted the bank's support for the country's efforts to diversify its economy, develop green energy, strengthen regional connectivity, introduce environmentally friendly technologies and support small and medium-sized enterprises.

The parties reviewed prospective transport and logistics infrastructure projects and discussed cooperation to advance regional transport corridors, particularly the Trans-Caspian Corridor.

Foreign Minister Rashid Meredov said Turkmenistan attaches special importance to implementing economic reforms, attracting international expertise and increasing investment, thanking the EBRD for supporting the country's priority national and regional programs.

Renaud-Basso praised Turkmenistan's dynamic socioeconomic development and reaffirmed the bank's readiness to deepen cooperation and participate in new institutional and infrastructure projects. The two sides also confirmed their commitment to continued cooperation and to defining practical steps for implementing planned initiatives.