The growth projection for the Caucasus and Central Asia is revised by the Asian Development Bank (ADB) upward to 4.9% from 4.7% for 2024 and to 5.3% from 5.2% for 2025, according the latest edition of the Bank’s Asian Development Outlook (ADO), released on 11 December. The adjustment reflects robust growth in Azerbaijan, Georgia, Tajikistan, […]
Masato Kanda Elected as ADB President
The Asian Development Bank (ADB) Board of Governors has unanimously elected Masato Kanda as ADB’s 11th President. Mr. Kanda, 59, currently serves as Special Advisor to Japan’s Prime Minister and Minister of Finance. He will assume office on 24 February 2025, succeeding Masatsugu Asakawa, who will leave office on 23 February 2025. Mr. Kanda will […]
ADB Launches Major Initiative for Central Asia and South Caucasus to Build Resilience to Melting Glaciers
The Asian Development Bank (ADB) launched a new regional program, Glaciers to Farms, that will promote sustainable water use and food security in Central Asia, the South Caucasus, and Pakistan amid the catastrophic impacts of accelerated glacial melt due to climate change, ADB said in a press-release on 14 November 2024. Supported by the Green […]
CAREC Ministers launched the Regional Climate Fund and endorsed Climate Change Action Plan
Member countries of the Central Asia Regional Economic Cooperation (CAREC) Program have endorsed a new Climate Change Action Plan (CCAP) and launched the CAREC Climate and Sustainability Project Preparatory Fund (CSPPF) to strengthen regional collaboration on climate resilience, low-carbon growth, and sustainable development. This endorsement took place at the 23rd CAREC Ministerial Conference, held on […]
CIET 2024: Turkmenistan strengthens cooperation with international financial institutions to implement major state projects
Chairman of the Board of the State Bank for Foreign Economic Affairs of Turkmenistan Rahimberdi Jepbarov, speaking at the international construction and industrial conference “Construction, Industry, Energy of Turkmenistan” (CIET 2024) in Ashgabat, presented an overview of cooperation with international financial institutions and cited some indicators of the development of the country’s construction and industrial […]
CIET 2024: ADB Supports Turkmenistan’s Energy Sector Paving the way for wider renewables use
Artur Andrysyak, Country Director of the Asian Development Bank’s (ADB) Turkmenistan Resident Mission, highlighted the bank’s commitment to supporting Turkmenistan’s energy and renewable energy sectors during his presentation at the international conference “Construction, Industry, Energy of Turkmenistan” (CIET 2024). ADB’s engagement in Turkmenistan is aligned with its country partnership strategy, which aims to assist the […]
ADB Brief: Decarbonizing Value Chains in the Central Asia Regional Economic Cooperation Economies
The ADB has issued a brief on the importance of decarbonizing value chains in the Central Asia Regional Economic Cooperation (CAREC) economies. It is available in pdf at this link: https://www.adb.org/sites/default/files/publication/1007746/adb-brief-316-decarbonizing-value-chains-carec.pdf Here is the essence of the brief, as generated by NotebookLM: ● CAREC has a high share of CO2 emissions in value-added manufacturing due […]
Additional ADB Grant to Strengthen Energy Security in Central Asia
The Asian Development Bank (ADB) has approved additional grant financing of $15 million to help Tajikistan scale up an ongoing project to reconnect the country’s power system to the Central Asian Power System (CAPS) through interconnections with neighboring Uzbekistan. “Through the Central Asia Regional Economic Cooperation (CAREC) program, ADB actively promotes regional power trade among […]
ADB Raises Economic Growth Forecast for Developing Asia and the Pacific
The Asian Development Bank (ADB) has raised its economic growth forecast for developing Asia and the Pacific this year, amid solid domestic demand and continued strength in exports. ADB has also lowered its forecast for regional inflation. The region is forecast to grow by 5.0% this year, compared with a projection of 4.9% in April, […]
TIF 2024: ADB Commits $625 Million to Turkmenistan’s Development
The Asian Development Bank (ADB) has pledged $625 million in investment projects in Turkmenistan, with one project completed and another ongoing. Additionally, the Bank is providing $11 million in technical assistance to strengthen institutions and capacity building, as announced by ADB’s Country Director for Turkmenistan, Artur Andrysiak, during his online presentation at TIF2024 in Ashgabat. […]
New ADB Strategy to Propel Turkmenistan Towards a More Sustainable, Climate-Resilient, and Competitive Economy
The Asian Development Bank (ADB) today launched a new country partnership strategy for Turkmenistan designed to help the Central Asian nation develop a competitive, diversified, and knowledge-based economy driven by an innovative private sector. Under the new strategy, covering 2024-2028, ADB’s assistance will focus on three strategic priorities — supporting the green transition to a […]
ADB Unveils New Country Partnership Strategy to Boost Turkmenistan’s Green and Competitive Economy
The Asian Development Bank (ADB) has published a new Country Partnership Strategy (CPS) for Turkmenistan, outlining its commitment to support the country’s transformation into a sustainable, climate-resilient, and competitive economy from 2024 to 2028. The CPS is built upon three pillars: supporting the green transformation to a sustainable and climate-resilient economy; strengthening economic competitiveness through […]
ADB and FutureWater hold Initial Discussions on Climate Adaptation Project in Turkmenistan
Early July, an Asian Development Bank (ADB) delegation and FutureWater visited Ashgabat for meetings and consultations with specialists from Turkmenistan’s Ministries of Agriculture and Environmental Protection, as well as the State Committee of Water Resources. The goal was to establish scientific and practical cooperation for a new climate adaptation-focused project. The proposed project focuses on […]
Turkmenistan and ADB Team Up for Greener Agriculture Project
Representatives from the Asian Development Bank (ADB), including climate specialist Leo Chris Palao and consultant Johannes Kunink, recently held a series of consultative meetings with environmental management and agriculture specialists in Ashgabat. Employees from the ADB’s Ashgabat office also participated in the final meeting, according to the Neutral Turkmenistan newspaper. These meetings focused on developing […]
ADB Raises Developing Asia and the Pacific’s Economic Growth Forecast for 2024
The Asian Development Bank (ADB) has slightly raised its economic growth forecast for developing Asia and the Pacific this year to 5.0% from a previous projection of 4.9%, as rising regional exports complement resilient domestic demand. The growth outlook for next year is maintained at 4.9%. Inflation is forecast to slow to 2.9% this year […]
ADB Forecasts Developing Asia’s Economy to Grow 4.9% in 2024
MANILA, PHILIPPINES (11 April 2024) — Developing economies in Asia and the Pacific are forecast to expand by 4.9% on average this year as the region continues its resilient growth amid robust domestic demand, improving semiconductor exports, and recovering tourism. Growth will continue at the same rate next year, according to the Asian Development Outlook […]
UNODC and ADB support Regional Platform for Fast-Tracking the Implementation of the UN Convention Against Corruption (UNCAC) in Central Asia
On March 26-27, 2024, Bishkek hosted a hybrid expert workshop as part of the Regional Platform for Fast-Tracking the UNCAC Implementation in Central Asia supported by UNODC. The workshop aimed at enhancing capacity and promoting peer learning of regional anti-corruption practitioners on best practices in preventing conflicts of interest and implementing ethical conduct in public, […]
ADB approved Project for Agricultural Development and Food Security in the Central Asia
Recently the Asian Development Bank approved technical assistance project titled “Resilient and Inclusive Agricultural Development and Food Security in the Central Asia Regional Economic Cooperation”. The project’s covers Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Mongolia, Pakistan, China, Tajikistan, Turkmenistan, and Uzbekistan. The CAREC member countries face considerable challenges in ensuring food security. A number of factors, […]
From Droughts to Floods: Adapting Central Asia’s Transport to a Changing Climate
Over the next decades, the effects of climate change will likely exert considerable pressure on the transport infrastructure of Central Asia. In response, policymakers and the engineering community need to implement resilient yet sustainable designs and construction solutions. Manual for Climate Change Adaptation Measures for Transport Infrastructure in Central Asia, developed by the Asian Development […]
Asian Development Bank slightly raises its 2023 forecast for economies of Caucasus and Central Asia
The Asian Development Bank (ADB) has slightly raised its economic forecast for economies in Caucasus and Central Asia 2023. The upward revision reflects an improved outlook for Kazakhstan and Tajikistan for 2023. The growth forecasts for the Caucasus and Central Asia are revised up to 4.8% for 2023 from September’s 4.6% projection and down to […]
CAREC Countries Endorse New Vision to Fight Climate Change Together
Member countries of the Central Asia Regional Economic Cooperation (CAREC) Program today committed to work together to cut greenhouse gas emissions and build resilience to climate change. “We endorse the Regional Action on Climate Change: A Vision for CAREC to help countries implement their commitments under the Paris Agreement,” said the joint ministerial statement issued […]
Five Steps to Economic Resilience in the Caucasus and Central Asia
By Eugene Zhukov, Lyaziza Sabyrova, Roman Mogilevskii The ability of the economies of the Caucasus and Central Asia to effectively respond to external shocks critically depends on their cooperation in diversifying trade and transport routes. The right policies and development of the Middle Corridor is a key to success. In the last several years, the […]
ADB Appoints Yingming Yang as Vice-President for South, Central, and West Asia
The Asian Development Bank (ADB) has appointed Yingming Yang as Vice-President (South, Central, and West Asia) for a period of 3 years. He will be responsible for the management of the operations of ADB’s Central and West Asia Department and South Asia Department. Mr. Yang has over 30 years of experience in economic development, working […]
OGT 2023: ADB’s engagement in the energy sector of Turkmenistan
Highlights: ADB will continue to keep strong focus on energy sector in Turkmenistan ADB stands ready to help Turkmenistan in elaborating the Strategy for Long-term Carbon Neutrality The Bank is also working on preparing a Roadmap for the low-carbon transition in Turkmenistan in power sector. ADB is ready to support Turkmenistan’s efforts to reduce greenhouse […]
Accession of Turkmenistan to the World Trade Organization: Technical Working Sessions on the Memorandum of Foreign Trade Regime
On 2-6 October, the Asian Development Bank (ADB) and the World Trade Organization (WTO) organized technical working sessions on policies affecting trade in goods, which form part of the Memorandum of Foreign Trade Regime (MFTR) – a key document for WTO accession negotiations. The activity builds on the series of capacity building on Turkmenistan’s accession […]
ADB Capital Management Reforms Unlock $100 Billion in New Funding Over Next Decade to Support Asia and the Pacific
The Asian Development Bank (ADB) today approved capital management reforms that unlock $100 billion in new funding capacity over the next decade to address the region’s overlapping, simultaneous crises. The expansion of available funds will be further leveraged through mobilizing private and domestic capital to move from the billions to trillions required to tackle the […]
ADB Projects Solid Growth but Rising Risks for Asia and Pacific
Economic growth in Asia and the Pacific is expected to remain solid, although risks to the outlook are rising, according to a report by the Asian Development Bank (ADB). The region’s developing economies are forecast to grow 4.7% this year, a slight downward revision from a previous projection of 4.8%, according to Asian Development Outlook […]
ADB Supports Turkmenistan’s Development with $632.6 Million in Loans, Grants, and Technical Assistance
To date, ADB has committed 13 public sector loans, grants, and technical assistance totaling $632.6 million to Turkmenistan, says Bank’s updated fact sheet. In 2022, ADB topped up its transaction technical assistance portfolio by $225,000 to help prepare bankable projects in Turkmenistan. ADB advanced significantly with the processing of proposed projects including Improving Nursing Quality […]
ADB: Narrowing the flood and earthquake risk protection gap in Central Asia
With climate change set to exacerbate the frequency and severity of disaster events, Central Asia and South Asia face a growing risk protection gap. KEY TAKEAWAYS With climate change set to exacerbate the frequency and severity of natural hazards, Central Asia and South Asia face higher risk to lives and livelihoods. Pre-arranged disaster risk financing […]
Arkadag city opens up broad prospects for cooperation with multilateral institutions
About 300 representatives from Europe, Asia, the USA, CIS countries, international organizations and financial institutions took part in the International Investment Forum “Smart City Arkadag”. Representatives of the UN, UNIDO, ADB, in an interview with the Neutral Turkmenistan newspaper, shared on the emerging prospects in engagement with these international organizations in the light of the […]
ADB to assist five countries, including Turkmenistan, to mainstream gender in projects preparation
ADB approved US $ 350,000 worth subproject titled Mainstreaming Gender in Project Preparation for Armenia, Azerbaijan, Georgia, Kyrgyzstan, and Turkmenistan Subproject will support the preparation of projects in five countries, namely Armenia, Azerbaijan, Georgia, Kyrgyz Republic, and Turkmenistan. The technical assistance subproject outputs are as follows: country level gender information produced; preliminary gender design features […]
ADB to Expand Support for Turkmenistan — Vice-President Shixin Chen
The Asian Development Bank (ADB) is preparing a new country partnership strategy (CPS) for Turkmenistan that will prioritize private sector development; developing human capital, with a focus on women and girls; and climate change, ADB Vice-President Shixin Chen said in meetings with senior officials from the Central Asian nation this week. Tackling climate change is […]
Ashgabat OGT Conference on Environmental Aspects of Hydrocarbon Industry reaffirmed the key role of gas in the energy transition
nCa Report Natural Gas is the key to a low–carbon future Turkmenistan is preparing the 4th national report on climate change and is on the way to joining the Global Methane Pledge International institutions are ready to cooperate with Turkmenistan in the field of green development On 15 June 2023, Ashgabat hosted an International scientific […]
ADB: Unlocking Central Asia’s Economic Potential by Integrating into Global Value Chains
Zulfia Karimova, ADB Principal Regional Cooperation Specialist A free trade agreement could bring the economic and social development benefits of global value chains to Central Asia. Central Asia, despite its diverse economic composition and wealth, is poorly integrated into global value chains. This limits the region’s economic growth, competitiveness, and development opportunities. It is crucial […]
ADB Helps Connect Central Asian Countries — Independent Evaluation Report
The Asian Development Bank (ADB) has helped advance transport and energy connectivity among member countries of the Central Asia Regional Economic Cooperation (CAREC) Program, but progress on improving regional economic competitiveness, trade, and the supply of regional public goods in the subregion has been more limited, according to an independent evaluation report released today. Evaluation […]
ADB supports Turkmenistan in unlocking country’s potential as an important regional transport and transit hub
Asian Development Bank has been supporting Turkmenistan efforts to reposition the country as trade and transit hub through several initiates and projects in transport sector and this cooperation will continue to foster. This was evidenced from the presentation by Mr.Artur Andrysiak, ADB Country Director at the Ashgabat Conference devoted to international transport and transit corridors […]
ADB and Saudi ACWA POWER inked a loan agreement on the construction of two wind farms in Uzbekistan
The projects claim to be the largest in the field of wind development in the region The Asian Development Bank (ADB) and ACWA Power Company (ACWA) signed $174 million worth of loans to develop the Bash wind power and Dzhankeldy wind power plants, both located in the Bukhara region in Uzbekistan, ADB said. The financing […]
Gains in hydrocarbon production and exports spurred Turkmenistan’s economic recovery in 2022 – ADB says
Gains in hydrocarbon production and exports spurred economic recovery of Turkmenistan in 2022. Inflation remained in double digits, and the current account registered a large surplus. Growth will increase slightly in 2023 and moderate in 2024, says ADB’s flagship report’s April release – Asian Development Outlook (ADO). Here are some excerpts from Asian Development Outlook April […]
ADB Forecasts 4.8% Growth for Asia and Pacific in 2023 and 2024
The Asian Development Bank (ADB) forecasts faster growth for developing economies in Asia and the Pacific this year, as the continued easing of pandemic restrictions boosts consumption, tourism, and investment. The People’s Republic of China’s (PRC) reopening—as it pivots away from its zero-COVID strategy—is the main factor brightening the region’s growth prospects. Economies in Asia […]
ADB presented CAREC Advanced Transit System for the State Customs Service of Turkmenistan
Representatives of the Asian Development Bank in Ashgabat held a presentation for specialists of the State Customs Service of Turkmenistan on the CAREC Advanced Transit System (CATS) and Information Common Exchange (ICE). The meeting was organized within the framework of the Central Asian Regional Economic Cooperation (CAREC) program. CATS s is a regional transit system […]
ADB upgrades upward forecast for Central Asia and Caucasus
The subregional growth projection for the Caucasus and Central Asia in 2022 is raised from 3.9% in the September Update of Asian Development Outlook (ADO) 2022 to 4.8% for 2022, while the projection for 2023 remains unchanged at 4.2%, ADB said in a recent supplement to the ADO 2022. The upward adjustment for 2022 reflects […]
By the Numbers: Climate Change in Central Asia
From devastating floods in Pakistan to growing water scarcity in Central Asia, the impacts of climate change vary widely. The Central Asia Regional Economic Cooperation (CAREC) Program—a partnership of 11 countries from Central Asia, South Asia, the Caucasus, as well as Mongolia and the People’s Republic of China—is working to increase regional cooperation to help the region […]
Green Recovery, Food Security, and Clean Energy Cooperation Initiatives adopted by CAREC Ministers
The ministers from Azerbaijan, the People’s Republic of China (PRC), Georgia, Kazakhstan, the Kyrgyz Republic, Mongolia, Pakistan, Tajikistan, Turkmenistan, and Uzbekistan met at the 21st CAREC Ministerial Conference on 24 November. This year’s Ministerial Conference was chaired and hosted virtually by China under the theme Revitalizing Regional Cooperation for a Green, Sustainable, and Inclusive Recovery. Countries in […]
ADB supports projects in the transport and energy sector of Turkmenistan
Since 2000, ADB has allocated US$ 625 million for two investment projects in the energy and transport sectors and US$ 8 million in technical assistance grants for Turkmenistan. This was announced by ADB Country Director to Turkmenistan Artur Andrysiak during his remarks at the international conference “International economic cooperation of Turkmenistan: experience and prospects for […]
Six Policy Reforms that can Strengthen Railways in Central Asia
Railways across the Central Asia Regional Economic Cooperation Program (CAREC) region must consider implementing key reforms that will make them more efficient and financially sustainable. A new study by the Asian Development Bank (ADB) assesses the state of CAREC railways and identifies opportunities for investment, commercialization, and reform. By implementing key reforms, railways across the […]
How Trade via Rail in Central Asia Can Mitigate the Energy and Climate Crises
Zulfia Karimova, Principal Regional Cooperation Specialist, ADB In a world where 90% of global trade is moved by sea, the landlocked economies of Central Asia almost exclusively rely on rail and road transport for trade. Much of the long-distance cargo moves via existing rail networks, which have substantial potential to facilitate trade in the region […]
ADB and Turkmenistan discuss cooperation in the fields of market diversification, energy and WTO accession support
On 30 July 2022, the Ministry of Finance and Economy of Turkmenistan hosted a meeting with the ADB Country Director for Turkmenistan Artur Andrysiak. The main purpose of the meeting was to discuss the prospects of bilateral cooperation. During the meeting, the minister for finance and economy of Turkmenistan Muhammetgeldy Serdarov noted that the partnership […]
Trade costs on the rise in Asia and the Pacific, but cuts in red tape could help bend the trend
The high cost of trade in Asia and the Pacific continues to rise, but ongoing efforts to facilitate commerce will help keep goods flowing throughout the region, according to a new report by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) and the Asian Development Bank (ADB). Economies in the […]
CAREC Institute: How to increase COVID-19 vaccination trust in Central and West Asia
Elvira Kadyrova Since the WHO’s declaring Covid-19 pandemic, more than 1.6 billion doses of vaccine has been administered worldwide. The data give hope that the collective immunity developed as a result of immunization will stop the terrible virus. However, according to a CAREC Institute research survey conducted in Georgia, Kazakhstan, the Kyrgyz Republic, Mongolia, Pakistan, […]
Role of Turkmenistan in preparing Afghanistan for economic remake – Part 5
Tariq Saeedi The economic remake of Afghanistan, the central piece of which is the TAPI Corridor, cannot take place without solid and consistent financial support. The support doesn’t just comprise of monetary resources. It is perhaps even more important to make sure that the resources are spent in a transparent and most efficient manner. ADB […]