The FINANCIAL — The Asian Development Bank (ADB) and the Government of Turkmenistan signed a $500 million loan to strengthen Turkmenistan’s transmission network, improve the reliability of the country’s power supply, and increase electricity exports to neighboring countries.
The signing was witnessed by ADB President Mr. Takehiko Nakao and the Deputy Chairman of the Cabinet of Ministers (Economy and Finance) Mr. Gochmyrat Myradovon at the sidelines of the 17th Central Asia Regional Economic Cooperation (CAREC) Ministerial Conference held in Ashgabat, Turkmenistan.
The National Power Grid Strengthening Project is the first project by any international financial institution in the power sector in Turkmenistan. It will cover four of the country’s five regions and help establish an interconnected national transmission grid to improve reliability and energy efficiency of the network. It will also boost Turkmenistan’s capacity to trade electricity with Kazakhstan, the Kyrgyz Republic, Pakistan, Tajikistan, and Uzbekistan, and increase the volume of current electricity exports to Afghanistan.