President Serdar Berdimuhamedov received the head of the Islamic Development Bank (IsDB) Mohammed Al Jasser on 19 September 2024.
The guest confirmed the IsDB’s readiness to strengthen long-term cooperation with Turkmenistan, which is pursuing a constructive policy based on the principles of positive neutrality and implementing progressive socio-economic transformations and large-scale infrastructure projects.
As President Serdar Berdimuhamedov noted, the strategy of economic development of Turkmenistan gives a significant role to the expansion of international cooperation, in particular, contacts with authoritative financial institutions and banking structures. As for interaction with the IsDB, it is effective and long-term. In September of this year, Turkmenistan marks 30 years of membership in the Islamic Development Bank. Over the past period, the IsDB has participated in the financing of more than 20 important projects in our country in such areas as healthcare, education, transport, communications, and energy.
Continuing the topic, President Serdar Berdimuhamedov emphasized that strengthening the health of the people and increasing the life expectancy of the population is one of the priorities of the state policy of Turkmenistan. A lot of work is being done in the national health care system to successfully solve the tasks set. At the same time, the role of the IsDB in the implementation of projects for the construction of medical and health resort infrastructure facilities was noted. At the same time, there are good opportunities for further investment cooperation with the Islamic Development Bank in this area.
During the exchange of views on key areas of partnership, emphasis was placed on the prospects for cooperation in the energy sector. Turkmenistan, which has the richest natural resources, is consistently committed to developing this sector through diversification. In this context, the possibilities of cooperation in the oil and gas sector were considered. The implementation of this important project will contribute to the expansion of productive economic cooperation not only in the regional but also in the international dimension.
Turkmenistan is also carrying out comprehensive work in the field of clean energy that does not harm the environment. This creates great opportunities for cooperation with the IsDB in implementing projects or new initiatives in the field of sustainable energy in our country.
The sphere of transport was also identified as one of the promising areas of cooperation. It was noted that the advantageous geographical location serves as a solid foundation for the dynamic development of Turkmenistan’s transport and logistics infrastructure. In this regard, the interconnectedness of all modes of transport is of particular importance. From this point of view, consistent work is being carried out to form multimodal regional and international transport corridors along the North-South and East-West routes.
It was stated that there are broad opportunities for activating international transportation via the Caspian Sea. There is enormous potential for increasing the capacity of the Turkmenbashi International Sea Port, which connects Asia and Europe. For its part, Turkmenistan is ready to consider specific proposals from the Islamic Development Bank for participation in projects to create transport and transit corridors.
Within the framework of cooperation with the IsDB, projects for the development of the Internet and telecommunications systems were also allocated.
In addition, there are broad prospects for strengthening effective contacts between the IsDB and banks and the private sector of Turkmenistan. In this regard, it seems appropriate to intensify cooperation in the field of financial and credit and advisory services in the development of small and medium businesses.