The State Bank for Foreign Economic Affairs of Turkmenistan


Ashgabat, Turkmenistan, 3 August 2022 - The MCPS Technical Team of the Islamic Development Bank Group (IsDBG), led by the Regional Hub of Almaty and represented by the representatives of the IsDB HQ departments and IsDB Group entities, conducted online meetings with the concerned ministries and the state committees for formulation of the MCPS Concept Note (CN) for Turkmenistan.

The meetings have been held during the period 18 July – 2 August 2022, when the team has discussed the national development priorities of the Government of Turkmenistan and potential sectoral and thematic challenges proposed for consideration within the MCPS framework. The outcome of the bilateral technical meetings mark IsDB Group’s successful commencement of the preparation process for the new 2022-2025 MCPS for Turkmenistan in full alignment with the country’s long-term national program of socio-economic development of Turkmenistan "Revival of a new era of a sovereign state” for period 2022-2052 and other mid-term top priority sectorial programs of the Government of Turkmenistan.

Turkmenistan officially joined the IsDB in 1994. Turkmenistan is an upper middle-income country of 6.1 (2021) million people and the second largest country by area in the Central Asia. Turkmenistan is a landlocked and mainly desert country located in Central Asia, with an area of 488,100 sq. km. Turkmenistan borders with Afghanistan and Uzbekistan and has access to the Caspian Sea in the West, between Iran and Kazakhstan.

This will be the first-ever MCPS for Turkmenistan and it will leverage IsDB Group’s Synergy and an enhanced value proposition based on its multiple competitive advantages (products and services) and global partnerships. It will also provide required financial, technical, knowledge & capacity development, and private sector support to the relevant Turkmenistan counterparts and stakeholders.