News Column

Turkmenistan,United States : WORLD BANK GROUP and TURKMENISTAN discuss cooperation programs and priorities for cooperation

July 15, 2014

Turkmenistan's foreign ministry hosted a meeting with the World Bank Regional Director for Central Asia, Saroj Kumar Jha.

The parties reviewed the implementation of cooperation programs and identified priorities for cooperation.

The trends and reforms to improve the investment climate of Turkmenistan, the strategy to expand access for financing private enterprises and entrepreneurs, the issues of strategy development of the financial sector were discussed.

The World Bank Group (WBG) supports local reforms through the interim strategy for the period of 2015.

The interim strategy does not provide borrowings. The employees of the bank assist the government in the implementation of long-term national program of socio-economic development through consultations.

This is implemented by providing analytical and advisory services in the areas that have been identified with the Turkmen government.

The strategy consists of 2 components: the first focuses on activities in the areas proposed by the government, such as macroeconomic statistics, financial sector development and development of the private sector; while the second sets a strategic analytical research conducted by the World Bank.

Turkmenistan joined the World Bank Group in September 1992 and in 1996, the Bank established a Liaison Office in Ashgabat to enhance communications with the government and to provide operational support.

Turkmenistan is in a transitional stage. It conducted several reforms in monetary policy: the denomination of the national currency, exchange rate unification.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: TendersInfo (India)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters