New ADB strategy to make Turkmenistan more sustainable, climate-resilient and competitive

|Strategies|29 August 2024

Photo by Dovlet on UnsplashThe Asian Development Bank (ADB) has unveiled a transformative strategy aimed at steering Turkmenistan towards a more sustainable, climate-resilient, and competitive economy. This initiative, encapsulated in the ADB's Country Partnership Strategy (CPS) for 2024-2028, emphasizes the urgent need for economic diversification, environmental sustainability, and enhanced institutional capacity within the Central Asian nation.

Background and Context

Turkmenistan, rich in natural resources, particularly natural gas, faces significant challenges related to climate change and economic dependency on fossil fuels. The country has been grappling with the impacts of climate variability, including extreme weather events that threaten agricultural productivity and water resources. In response, ADB's strategy is designed to address these vulnerabilities while fostering a transition to a greener economy.

ADB has committed to supporting Turkmenistan through three primary pillars:

  • Green Transformation: This involves transitioning to a sustainable and climate-resilient economy, focusing on reducing greenhouse gas emissions and promoting renewable energy sources.
  • Economic Competi
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