Empowering SMEs in Turkmenistan: ADB’s Strategic Partnership
The Asian Development Bank (ADB) is poised to elevate the competitiveness of small and medium-sized enterprises (SMEs) in Turkmenistan through a dynamic mix of financial and technical support. Country Director Artur Andrysiak shared with Trend the strategic vision of ADB to bolster the economy’s competitiveness by fostering diversification, promoting the private sector, and advancing human development.
A key initiative under this plan is the Building Capacity of SMEs Exporters Project, which aims to strengthen the export capabilities of SMEs by enhancing credit availability, improving credit processes, and incorporating climate change considerations into the banking sector. Additionally, ADB is working closely with the government to identify opportunities and barriers to private sector participation and public-private partnerships (PPPs), laying the foundation for a more conducive business environment.
By investing in the private sector and championing innovative solutions, ADB seeks to fortify SMEs’ financial access, streamline regulatory frameworks, and ignite private sector growth, thereby driving Turkmenistan’s economic diversification and competitiveness. With a history of support in key sectors like transport infrastructure, economic diversification, human capital, and climate action, ADB remains a critical partner in Turkmenistan’s development journey.