The Islamic Development Bank (IsDB) Group, represented by a joint delegation of its entities - IsDB, ICD and ITFC, participated in the Turkmenistan International Investment Conference - Oil and Gas of Turkmenistan – 2021 that was held on May 12, 2021.

The event was organized by the State Concerns ‘Turkmengas’ and ‘Turkmennebit’, State Corporation ‘Turkmengeology’ as well as the Ministry of Finance and Economy of Turkmenistan in partnership with Turkmen Forum.

The forum was inaugurated with a statement on behalf of H.E. Mr. Gurbanguly Berdimuhamedov, the Hon. President of Turkmenistan read out by Deputy Chairman of the Cabinet of Ministers of Turkmenistan.

The event was attended by line Ministers, and senior officials from international companies specializing in the fields offshore technology, oil & gas, oil & gas trading, equipment manufacturing, geo-science, petrochemical and gas processing, engineering, procurement and construction, drilling, consultants, legal firms, embassies, the UN agencies, MDBs, and IFIs.

IsDB participated in the thematic session titled ‘Pipeline Projects as a Driving Force for Transition to a Low Carbon Future”. In his statement on behalf of IsDB, Mr. Edzwan Redza Anwar, Operations Team Leader (OTL) for Energy Projects  congratulated the government and the people of Turkmenistan on celebrating the 30th Anniversary of the Independence of Turkmenistan and the upcoming 140th anniversary of the capital Ashgabat.

He further elaborated on IsDB activities and programs that support global energy transformation driven by advanced technological change and new energy policy priorities for the sustainable development, and the way forward focusing on renewables, energy efficiency, energy access, and knowledge which are key IsDB energy sector pillars to meet multiple dimensions of energy sector development in pursuing global scale-up of renewables and continuing transition to low carbon energy future.

IsDB development intervention in Turkmenistan was highly commended and the forum regarded the Bank as one of the most active MDBs in the country and the region appreciating IsDB support for the energy infrastructure development especially the support for the TAPI gas pipeline project, and regional connectivity.

In addition, IsDB’s positive response to Turkmenistan’s strategic initiatives was lauded as well as the role that IsDB Group can play in supporting the transformation to cleaner energy in the country.