Turkmenistan and the Asian Development Bank (ADB) signed a loan agreement protocol on June 24 to finance the construction of a vocational medical college in Ashgabat. The signing followed a roundtable held at the Ministry of Foreign Affairs of Turkmenistan to mark the 25th anniversary of the country’s partnership with ADB, as reported by Turkmenistan’s Foreign Ministry on Tuesday.

The event brought together Deputy Chairmen of the Cabinet of Ministers, heads of key ministries and financial institutions, a high-level ADB delegation led by Vice President for South, Central and West Asia, Yang Yingming, as well as economic and development experts.

In opening remarks, Deputy Chairman of Turkmenistan’s Cabinet of Ministers Hojamyrat Geldimyradov highlighted the constructive nature of the 25-year cooperation, which has significantly contributed to Turkmenistan’s economic development. Key sectors of collaboration include energy, transport, urban development, and private sector support.

ADB Vice President Yang praised the long-standing partnership based on mutual trust and noted his recent meeting with President Serdar Berdimuhamedov in Ashgabat as a milestone in bilateral relations.

Participants reviewed new joint projects, particularly those related to the development of the smart city of Arkadag. The importance of a memorandum of understanding signed in May between the ADB and Turkmenistan’s State Committee for the Construction of Arkadag City was emphasized.

Discussions also covered future cooperation in infrastructure financing, private sector growth, human capital development, and sustainable development. Special focus was placed on energy diversification, railway modernization, and support for small and medium enterprises.

The roundtable served as a platform to reflect on 25 years of partnership and outline strategic priorities under the Turkmenistan Country Partnership Strategy 2024–2028.