Turkmenistan, OPEC Fund Step Up Cooperation Under Five-Year Program

Rahimberdi Jepbarov, Chairman of the State Bank for Foreign Economic Affairs of Turkmenistan, and Dr. Abdulhamid Alkhalifa, President of the OPEC Fund for International Development, held talks to expand their partnership, as reported by the OPEC Fund’s press office on Thursday. The discussions focused on strengthening collaboration under the Country Partnership Program—a five-year plan aimed at coordinating joint initiatives. The partnership program is based on a document signed on June 25, 2024, between the Government of Turkmenistan and the OPEC Fund. It outlines key areas of cooperation and aims to enhance collaboration with multilateral development finance institutions. The OPEC Fund has been cooperating with Turkmenistan since 1999, providing financing for projects in sectors such as transportation, healthcare, water supply and sanitation infrastructure. Established in 1976 by OPEC member countries, the OPEC Fund for International Development supports low- and middle-income countries. Headquartered in Vienna, the organization has financed projects in more than 125 countries worldwide.