ADB has committed $625 million for two investment projects in energy and transport sectors since the beginning of 2000, TREND news agency reported on Tuesday, citing Artur Andrysiak, the ADB's Country Director for Turkmenistan, as saying during the interview.
During the period, the bank has also provided $10 million in technical assistance grants for Turkmenistan.
Andrysiak also informed that the ADB and the Government of Turkmenistan are considering investment projects in the energy, transport, finance and healthcare sectors.
“The ongoing National Power Grid Strengthening Project is supporting the development of an interconnected national transmission grid to improve network reliability and energy efficiency, as well as to facilitate electricity exports,” Artur Andrysiak told Trend.
According to the report, ADB helped strengthen power transmission infrastructure with significant physical progress made in implementation of “National Power Grid Strengthening Project” in 2022, and a total of $166.4 million was disbursed under this sovereign loan.
Andrysiak stated that the ADB-funded North-South Railway project has improved the broader connection to corridors connecting Iran, Russia, and South Asia, and has helped more than double international traffic, to approximately 7.1 million tons, while reducing carbon dioxide emissions by 27,000 tons per year.
Within the framework of one of regional technical assistance programs, the bank supports Turkmenistan in the process of joining the World Trade Organization (WTO).