Turkmenistan, EIB Discuss Digitalization, Middle Corridor And Finance Cooperation

(MENAFN- Trend News Agency) ASHGABAT, Turkmenistan, February 24. Turkmenistan and the European Investment Bank (EIB) discussed cooperation in digitalization, development of the Trans-Caspian Transport Corridor, and financing of priority sectors of the economy, Trend reports via the press service of the Turkmen government.

The talks were held in Ashgabat between the representatives of the Ministry of Economy and Finance of Turkmenistan and a delegation led by Edvardas Bumšteinas, Head of the EIB's Department for Asia, Central Asia, and the Pacific.

The parties reviewed cooperation in the transport sector, including potential financing of the Trans-Caspian Transport Corridor (Middle Corridor), aimed at enhancing connectivity between Central Asia and Europe. It was noted that measures are being taken within the SPECA program to implement the roadmap for digitalization of the corridor.

The significance of digital transformation emerged as a key focus for collaboration, with Turkmenistan strategically prioritizing the advancement of digital reforms.

The Turkmen side highlighted that Turkmenistan's economic development strategy focuses on enhancing international cooperation, especially with esteemed financial institutions and banking entities.

Key investment areas have been pinpointed, focusing on energy and water management projects. Special focus was directed towards collaboration in the energy sector, emphasizing the diversification and advancement of clean, environmentally friendly“green” energy solutions. The parties acknowledged significant opportunities for European banks to engage in sustainable energy projects being launched in Turkmenistan.

The Turkmen side additionally underlined the importance of agricultural development and rational use of water resources, including cooperation with the EIB in irrigation construction and the introduction of high-tech equipment.

Hydrocarbon extraction and processing projects were also cited among priority areas, given Turkmenistan's significant reserves and active export of both raw and processed hydrocarbon products.

The meeting concluded with both sides expressing confidence in further strengthening mutually beneficial cooperation.

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