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Country data
- Population:
- 6.5 million
- Area:
- 488,000 sq km
- Capital:
- Ashgabat
- Currency:
- Manat
Key developments and challenges
The overall outlook for 2009 is favourable given that Turkmenistan’s gas export prices are still catching up with European market prices. With new onshore and offshore hydrocarbon discoveries, medium-term growth prospects remain positive. However, a technical accident in the main gas pipeline to Russia in April 2009 disrupted gas supplies and highlighted Turkmenistan’s vulnerability regarding their biggest hydrocarbon off-taker.
More developments and challengesRelated links
Turkmenistan
Key facts about the EBRD's work in Turkmenistan
|
No. of projects |
23 |
|---|---|
|
Net business volume |
€140.1 million |
|
Total project value |
€629.6 million |
|
Gross disbursements |
€136.3 million |
|
Portfolio in private sector |
73% |
Chart
Sector breakdown of current projects
Our strategy for Turkmenistan
Over the years the Bank has been concerned with Turkmenistan’s failure to make progress towards multi-party democracy, pluralism and a market-based economy in keeping with Article 1 of the Agreement Establishing the Bank. Recent progress in the political and economic spheres, triggered by the change in leadership in December 2006, provides an opportunity for deeper engagement, though several challenges remain.
Since the new administration took office there have been political and economic changes taking place in the country, aimed at reversing social and economic policies of the previous regime. A new Constitution recognises the principle of separation of powers and the legislature has been strengthened. Wider access to the internet is permitted.
CONTACTS
Yimpas Business Center
2nd Floor, Suite 201
54, Turkmenbashi Ave.
744000 Ashgabat
Turkmenistan
Tel: (+993 12) 45 51 18/45 51 19/45 39 16
Fax: (+993 12) 45 39 22
Highlights
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Flagship reports
The EBRD's principal corporate publications.
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The global financial crisis
We have responded to the crisis with decisive and extensive measures.
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Sustainability
We're committed to sustainable growth and development.
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Our strategies and policies
All our strategies, policies, procedures and related guidelines.
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Speeches and articles
Speeches and articles by EBRD Presidents and senior staff.
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How we are funded
We finance our lending and operational needs by borrowing funds.