BAKU, Azerbaijan, June 24. Turkmenistan and the World Bank discussed cooperation on digital transformation, green economy initiatives, transport development, and investment climate reforms.
This was reflected in a press release issued by the Turkmen government.
“Turkmenistan's Minister of Finance and Economy, Mammetguly Astanagulov, held talks with World Bank representatives Andrei Mikhnev and Inda John-Abraham,” the statement says.
According to the press release, particular attention was paid to Turkmenistan's participation in regional projects, including the Regional Electricity Market Initiative (REMIT) and the One Health program.
The sides also reviewed issues related to environmental sustainability, methane emission reductions in the oil and gas sector, and modernization of water resource management, the report notes.
Participants noted progress in integrating Turkmenistan's macroeconomic indicators into World Bank analytical reports, the press release said.
The parties additionally agreed to intensify work on improving the country's investment climate to strengthen its position in the World Bank's Business Ready assessment.
During the meeting, Turkmenistan and the World Bank signed a $314,000 agreement on advisory support for the transition of the national statistical system to the 2025 System of National Accounts (SNA 2025) and the improvement of GDP calculation methodologies.
According to the press release, the project is aimed at aligning national statistics with international standards and enhancing macroeconomic reporting practices.
To note, Turkmenistan has been cooperating with the World Bank since joining the institution in 1992. In recent years, the partnership has increasingly focused on technical assistance rather than large-scale lending, covering areas such as economic modernization, statistical reform, climate resilience, water management, energy connectivity and private sector development.
The World Bank's current Country Engagement Note for FY2026-2027 identifies support for economic modernization as a key priority. Among the focus areas are the modernization of macroeconomic statistics, participation in the Regional Electricity Interconnectivity and Trade Initiative (REMIT), methane emissions reduction in the oil and gas sector, WTO accession support, financial sector development and improvements to the business environment through the Business Ready program.
