Turkmenistan and the European Bank for Reconstruction and Development signed memoranda of understanding

Turkmenistan and the European Bank for Reconstruction and Development signed five memoranda of understanding in the areas of banking, sustainable energy, environmental protection, the efficient use of water resources and the development of transport corridors.

The relevant documents were signed following a meeting held at the Ministry of Foreign Affairs of Turkmenistan on July 28.

One of them defines the bank’s main strategic areas of activity in Turkmenistan for 2027–2032.

Another memorandum provides for the development of strategic cooperation aimed at strengthening the banking system, supporting export-oriented growth and diversifying the economy.

In addition, memoranda were signed providing for cooperation in sustainable energy, environmental protection, the efficient use of water resources, the modernisation of transport corridors and the development of Turkmenistan’s transit potential.

A memorandum of understanding was also signed between the Ashgabat City Hyakimlik and the EBRD on cooperation within the framework of the bank’s “Green Cities” programme.