EBRD eyes swift private financing in Turkmenistan under Central Bank pact

The European Bank for Reconstruction and Development (EBRD) expects its initial concrete investment operations in Turkmenistan to materialize under the memorandum of understanding signed with the Central Bank of Turkmenistan, EBRD Head of Turkmenistan Eric Livny said in an interview.

Out of five cooperation pacts concluded in July, the Central Bank agreement will yield the most immediate operational impact, establishing a framework that allows the multilateral lender to resume direct financing for export-oriented private enterprises generating their own foreign-currency earnings. Initial transactions are projected across manufacturing, agribusiness, logistics, and export services, with dedicated banking delegations scheduled to visit Ashgabat to advance project pipelines.

The bank is simultaneously prioritizing partnerships with domestic commercial lenders to unlock credit lines for small and medium-sized enterprises (SMEs) while deploying international trade finance instruments. Meanwhile, memorandums targeting transport corridors, sustainability, and urban planning will require extensive technical due diligence, serving as a medium-term project pipeline.

The EBRD has operated in Turkmenistan since 1992, deploying cumulative investments of €322 million across 87 projects with a core focus on private sector and institutional development. In July 2026, EBRD President Odile Renaud-Basso visited Turkmenistan, overseeing the signing of five strategic memorandums covering 2027–2032 cooperation, banking, clean energy, ecological governance, transit links, and Ashgabat’s inclusion in the EBRD Green Cities framework.