On Monday, 23 June 2025, President of Turkmenistan Serdar Berdimuhamedov received Vice President of the Asian Development Bank for South, Central and West Asia Yingmin Yang.
During the meeting, Yingming Yang noted that ADB pays special attention to cooperation with Turkmenistan, which demonstrates stable economic growth. In this regard, the ADB confirms its support for the country’s initiatives to create a sustainable economy and diversification.
President Berdimuhamedov stressed that in the context of Turkmenistan’s development strategy, great importance is attached to expanding international cooperation and intensifying dialogue with major financial organizations and banking and credit institutions. In this regard, the constructive nature of the cooperation between Turkmenistan and the ADB, which this year marks the 25th anniversary, was emphasized.
Over the past time, ADB has been involved in financing many projects covering energy, transport, and healthcare.
Today, the bilateral partnership with the ADB is carried out within the framework of the Cooperation Strategy with Turkmenistan for 2024-2028. In this regard, the assistance of projects implemented under the Central Asian Regional Economic Cooperation (CAREC) Program to the development of the economy, trade, transport and energy sectors was emphasized.
The Head of State expressed confidence that the Memorandum of Understanding signed in May this year between the State Committee for the Construction of the City of Arkadag under the President of Turkmenistan and the ADB would give a significant impetus to the long-term partnership.
As noted, consistent steps are being taken in Turkmenistan to develop macroeconomic policy, improve financial markets and expand investment opportunities.
Turkmenistan, which has huge reserves of natural resources, intends to diversify the energy sector. In this regard, the meeting focused on cooperation in this area.
Additionally, Turkmenistan places great importance on maintaining a constructive dialogue with the ADB regarding the modernization of the railway industry.
Noting the expediency of activating financial, credit and consulting services in the context of the development of small and medium-sized businesses, the head of state stressed the need for ADB to cooperate with Turkmen banks to realize the potential of the private sector.
At the end of the meeting, President Serdar Berdimuhamedov confirmed Turkmenistan’s readiness to further expand the mutually beneficial partnership with the ADB.