On 23 February, the Ministry of Finance and Economy of Turkmenistan held a meeting with a delegation led by Edvardas Bumsteinas, Head of the European Investment Bank's Division for Asia, Central Asia and the Pacific, who arrived in the country on a working visit. This was reported by the publication ‘Turkmenistan: Golden age’.

The parties expressed interest in further expanding mutually beneficial cooperation. It was reported that the main purpose of the delegation's two-day visit was to hold final negotiations on the draft Framework Agreement between Turkmenistan and the EIB. It was noted that the relevant ministry had reviewed the document over the past year and this year and submitted its proposals. Confidence was expressed that the final version of the agreement would be agreed during the current visit.

Among the priority areas of cooperation with the EIB is the transport sector, in particular the financing of the Trans-Caspian Transport Corridor, the creation of which is intended to increase the interconnectedness of Central Asian and European countries. The progress of the Roadmap for the digitalisation of the corridor within the framework of the SPECA Programme was also noted.

Special attention was paid to digital transformation and the development of energy and water management. It was emphasised that, along with the diversification of the fuel and energy complex, Turkmenistan is systematically working to develop environmentally friendly ‘green’ energy. In this regard, broad prospects for the participation of European banks in the implementation of sustainable energy projects were noted.

The Turkmen side also emphasised the importance of developing agriculture and the rational use of water resources, including cooperation with the EIB on the construction of irrigation facilities and the introduction of high-tech equipment. It was noted that, with its significant hydrocarbon reserves, the country is interested in projects for their extraction and deep processing.

Following the meeting, confidence was expressed in the further effective development of the partnership between Turkmenistan and the European Investment Bank.