(MENAFN- Trend News Agency) BAKU, Azerbaijan, March 24. The Asian
Development Bank (ADB) has allocated hundreds of millions of
dollars for investment projects in Turkmenistan, Country Director
of the Asian Development Bank for Turkmenistan Artur Andrysiak,
told trend .
"ADB has committed $625 million for two investment projects in
energy and transport sectors since the beginning of 2000 and $10
million in technical assistance grants for Turkmenistan.
Furthermore, ADB topped up by $225,000 its existing transaction
technical assistance portfolio to help prepare bankable projects in
Turkmenistan. With that, ADB's valid transaction and knowledge
technical assistance portfolios for the Turkmenistan reached $3.7
million and $500,000, respectively," Andrysiak said.
He noted that regional technical assistance complements ADB's
efforts to achieve stimulating the development of Turkmenistan, and
also added that within the framework of one of such regional
technical assistance programs, the bank supports Turkmenistan in
the process of joining the World Trade Organization (WTO).
"At the same time, the ongoing ADB National Power Grid
Strengthening Project is supporting the rehabilitation of 2,000
kilometers of power transmission lines and 11 substations. This
project supports the creation of an interconnected national
electricity grid and increases its reliability and energy
efficiency, as well as increase the export of electricity to other
countries. Currently, the bank has started preparing its next
five-year country partnership strategy for Turkmenistan," the
country director said.
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