Turkmenistan pays great attention to enhancing productive cooperation with European financial institutions and plans to expand partnership with the European Investment Bank. Deputy Prime Minister, Minister of Foreign Affairs of Turkmenistan R. Meredov reported on this during the government meeting via video link.

As it is known, on October 23, 2023, a regular "European Union - Central Asia" format session took place at the level of the heads of foreign policy departments in Luxembourg. During the meetings held within its framework, high-ranking EU representatives proposed to consider the possibilities of establishing cooperation between Turkmenistan and the European Investment Bank. This topic was also discussed during the visit of the Vice President of the European Commission to our country in January this year. 

The European Investment Bank was founded in 1958. Today, this bank interacts with 160 countries, banking institutions, the UN and other international organizations, public associations and the private sector. Its key areas of investment and credit financing activity include the environment and climate change, innovation, digitalization, human capital development, small and medium-sized enterprises, sustainable cities and regions, energy and sustainable transport.

In this context, proposals were made to establish fruitful cooperation between Turkmenistan and the European Investment Bank, in particular, to conduct negotiations on a draft bilateral Framework Agreement and other relevant issues. This will contribute to expanding the scope of constructive cooperation with the European Union, strengthening trade and economic ties, and will be an additional tool for attracting capital investments from the EU and European countries into important economic projects implemented in our country.

Having heard the report, President Serdar Berdimuhamedov noted that our Independent and Neutral Homeland cooperates closely with international banks and financial institutions, and maintains mutually beneficial partnerships in the areas of lending and investment.

Speaking about this, the head of state instructed the Deputy Prime Minister, Minister of Foreign Affairs to continue proper work to establish effective cooperation with the European Investment Bank, and take measures to attract its capital investments into projects in progress in Turkmenistan.