Turkmenistan's Cooperation with the European Bank for Reconstruction and Development Reaches New Level

On July 28, 2026, a meeting between Minister of Foreign Affairs of Turkmenistan Rashid Meredov and President of the European Bank for Reconstruction and Development (EBRD) Odile Renaud-Basso was held at the Ministry of Foreign Affairs of Turkmenistan.

During the meeting, the parties noted that Turkmenistan's cooperation with the EBRD continues to grow.

It was emphasized that the EBRD supports Turkmenistan's economic diversification program, actively supporting the development of green energy, regional connectivity, and the introduction of environmentally friendly technologies. Among the EBRD's priorities is supporting small and medium-sized businesses in Turkmenistan.

The parties discussed promising projects for the development of transport and logistics infrastructure and promoting regional transport corridors, particularly the Trans-Caspian Corridor.

The head of Turkmenistan's Foreign Ministry emphasized that Turkmenistan attaches particular importance to the consistent implementation of economic reforms and the attraction of advanced international experience and investment. In this context, appreciation was expressed to the EBRD for its assistance in implementing priority national and regional programs.

For her part, Odile Renaud-Basso praised Turkmenistan's dynamic socioeconomic development and confirmed the European Bank for Reconstruction and Development's readiness to further deepen the productive dialogue and participate in new institutional and infrastructure projects.

At the end of the meeting, the parties reaffirmed their mutual commitment to continuing active collaboration and identifying concrete steps to implement the outlined plans.

***

Following the meeting, a signing ceremony was held for the following documents:

Memorandum of Understanding between the Central Bank of Turkmenistan and European Bank for Reconstruction and Development in respect of the core strategic objectives to be pursued by the EBRD in Turkmenistan in 2027-2032;

Memorandum of Understanding between Central Bank of Turkmenistan and European Bank for Reconstruction and Development in respect of strategic partnership on strengthening the banking sector and supporting export-driven growth and diversification of Turkmenistan’s economy;

Memorandum of Understanding amongst the Ministry of Environmental Protection of Turkmenistan, the Ministry of Energy of Turkmenistan, the State Concern Turkmengaz, the State Concern Turkmennebit, the State Concern Turkmenhimiya, and the European Bank for Reconstruction and Development in respect of cooperation in the field of sustainable energy, environmental protection, and the efficient use of water resources in Turkmenistan;

Memorandum of Understanding amongst the Ministry of Railways of Turkmenistan and the Ministry of Automobile Roads of Turkmenistan and European Bank for Reconstruction and Development in respect of cooperation on modernizing transport corridors and developing Turkmenistan’s transit potential;

Memorandum of Understanding between the Ashgabat City Administration and the European Bank for Reconstruction and Development in respect of cooperation within the framework of EBRD's Green Cities Programme.