Turkmenistan became a member of IFC in 1997. Working with the World Bank, IFC supports the governments’ development objectives by addressing select priority issues. In September 2013, the World Bank Group and the Government of Turkmenistan signed a reimbursable advisory services program focused on activities in three areas—macroeconomic statistics, financial sector development, and private sector development.
In the framework of the agreement, IFC will help Turkmenistan increase access to and private sector involvement in infrastructure and support the government’s ongoing privatization program by providing assistance for one or two privatization pilots, which will be identified jointly with the government. IFC will also help develop local capital markets to increase access to finance for businesses and individuals. IFC advisory services will focus on supporting the establishment of a credit reporting system, which will enable the country’s financial markets to expand the availability and affordability of banking products and services.
Going forward, IFC will continue to look for investment opportunities in the financial and SME sectors and provide advisory services to support reform of related regulatory frameworks.
Details of projects currently in progress can be found in IFC Disclosure. For completed projects see press releases below or visit the IFC Press Room.