BAKU, Azerbaijan, September 4. Turkmenistan and the European Investment Bank (EIB) held online talks on a framework agreement.
This was announced by EU Mission in Turkmenistan in a post on X following the discussions that brought together representatives of Turkmenistan’s national institutions, the EIB and the EU Delegation to Turkmenistan.
The sides reviewed the framework agreement as part of continued dialogue and cooperation between Turkmenistan, the EIB and the European Union.
The agreement is particularly significant as its signing is a prerequisite for the EIB to launch operational engagement in Turkmenistan, Olivier Kueny, Head of the EIB’s Regional Representation for Central Asia, told Trend.
“Although our operations in Turkmenistan are currently limited until a Framework Agreement is signed, the recent mission to Ashgabat showed a clear shared interest in future cooperation,” Kueny said.
He noted that the EIB had already allocated resources to work on potential projects in Turkmenistan and would be able to quickly develop a project pipeline once the agreement is in place.
Potential areas of cooperation include sustainable transport, digital technologies, renewable energy and water management. The EIB is also exploring ways to support the development and digitalisation of the Trans-Caspian Transport Corridor, particularly where such initiatives align with the EU’s Global Gateway strategy.
Additionally, Kueny told that Turkmenistan’s plans to modernise transport infrastructure and develop renewable energy correspond well with the EIB’s climate and infrastructure priorities. He also described Turkmenistan as a key node of the Trans-Caspian Transport Corridor due to its direct access to the Caspian Sea.
For reference, the European Investment Bank (EIB), founded in 1958 and headquartered in Luxembourg, is the lending institution of the European Union that provides long-term financing for infrastructure, climate, energy, transport, digitalization and other development projects in EU member states and partner countries worldwide. The bank currently cooperates with more than 160 countries and focuses on supporting sustainable development, climate action and economic connectivity.
Turkmenistan and the EIB have been developing dialogue in recent years, primarily aimed at creating a legal framework that would allow the bank to begin operations in the country. In particular, the sides are negotiating a Framework Agreement that would establish the legal basis for EIB financing of projects in Turkmenistan. Potential areas of cooperation discussed between Turkmenistan and the bank include transport infrastructure, especially projects linked to the Trans-Caspian transport corridor, as well as initiatives in renewable energy, digitalisation, water management and other sustainable development sectors.
