Head of State held a meeting with the President of the European Bank for Reconstruction and Development

On March 3, President Serdar Berdimuhamedov, who is on a working visit to the Republic of Uzbekistan to participate in the first "Central Asia–European Union" Summit, met with the President of the European Bank for Reconstruction and Development (EBRD), Odile Renaud-Basso.

After exchanging warm greetings, the two officials expressed their satisfaction with the opportunity to meet within the framework of this high-level forum, which is dedicated to expanding cooperation between the two regions.

In continuation, the Head of State noted that in implementing Turkmenistan's economic development strategy, particular attention is paid to strengthening and expanding international partnerships, specifically through the activation of relations with authoritative financial organizations and banking structures. In this regard, the effective nature of Turkmenistan's long-standing cooperation with the EBRD was highlighted.

Odile Renaud-Basso highly praised the level of economic development in Turkmenistan and confirmed her organization's interest in further expanding mutually beneficial contacts.

The Head of State also emphasized the ongoing work on the creation of multifaceted and regionally significant international transport corridors, such as North–South and East–West, and confirmed Turkmenistan’s readiness to consider specific proposals from the EBRD regarding participation in projects in this area.

Focusing on the energy sector, President Serdar Berdimuhamedov underscored that alongside the diversification of this sector, Turkmenistan is also actively developing “green” energy, which is clean and environmentally friendly.

In this context, the wide opportunities for EBRD involvement in the sustainable energy projects and initiatives being implemented in Turkmenistan were noted.

As the Head of State pointed out, great importance is attached to the development of the agricultural sector, particularly the economical and rational use of water resources. In this regard, it was emphasized that Turkmenistan supports cooperation between the relevant ministries of our country and the EBRD in the construction of irrigation systems and the introduction of high-tech specialized equipment.

Turkmenistan advocates for the use of new, more efficient forms of partnership between national banks and the private sector with this large international financial organization, said the Head of State, noting the importance of enhancing financial, credit, and consulting services to foster the development of small and medium-sized businesses. At the same time, Turkmenistan’s readiness to expand mutually beneficial cooperation with the EBRD was confirmed.

At the conclusion of the meeting, President Serdar Berdimuhamedov and the President of the European Bank for Reconstruction and Development, Odile Renaud-Basso, expressed confidence in the further strengthening of bilateral partnership and exchanged best wishes with each other.

Source: State Information Agency of Turkmenistan