Partners discuss development opportunities as part of Great Silk Road initiative

20-21 June 2018, Ashgabat, Turkmenistan

Around 200 representatives from government, business, international financial institutions and commercial banks came together to discuss Turkmenistan’s development and resource mobilization opportunities.

As part of Turkmenistan’s national development agenda for 2030, the country has established sophisticated mechanism for implementing and monitoring progress on the Sustainable Development Goals (SDGs).

The United Nations Development Programme (UNDP) and Turkmenistan’s State Bank for Economic Affairs (TFEB) have been working together to facilitate access to international financing and to improve the country’s capacity to deliver and manage such financing streams effectively.

“Getting financing right will be critical to meet the SDGs by 2030. While there is no shortage of resources in the global economy, we need partnerships, sound planning, leadership and some creative ideas of looking at financing streams for development,” stated Rastislav Vrbensky, UNDP Deputy Regional Director for Europe and the CIS at the conference.

The conference highlighted on-going infrastructure and sustainable development projects and identified financing needs as the country endeavors to carry out the Addis Ababa Action agenda, which aims to mobilize all possible sources of financing for the SDGs.

Participants of the conference noted high relevance of the topics discussed and agreed on the need to address the development issues by creating improved public-private partnership agreements and mechanisms for cooperation.

As a result of the Conference, the State Bank for Economic Affairs of Turkmenistan and United Nations Development Programme signed a Memorandum of understanding concerning joint cooperation in mobilizing development financing for the achievement of the sustainable development goals in Turkmenistan. The Memorandum of understanding regarding financing of potential projects in Turkmenistan between the Government of Turkmenistan and Al Qamra Holding Group was signed between the State Bank for Economic Affairs of Turkmenistan and Al Qamra Holding Group. 

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