Turkmenistan inks agreement with World Bank for $20M loan

Turkmenistan’s Finance and Economy Minister Muhammetgeldi Serdarov met with the World Bank (WB) Country Manager for Turkmenistan Jan-Peter Olters and the WB Regional Director for Central Asia Tatiana Proskuryakova via video conference, Report informs.

Turkmen minister and WB officials discussed ways to strengthen cooperation between Turkmenistan and the World Bank in various areas, including the fight against the coronavirus pandemic.

A Credit Agreement between the Finance and Economy Ministry of Turkmenistan and the International Bank for Reconstruction and Development (IBRD) of the World Bank Group on the Counteracting COVID-19 project was signed during the meeting.

According to the instructions of President Gurbanguly Berdymuhamedov, $20 million funds received from the WB will be used to diagnose and prevent coronavirus in Turkmenistan, purchase the necessary drugs and medical equipment.