Turkmenistan: Financial Sector Reforms

Sovereign Project | 46113-001 Status: Dropped / Terminated


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Project Name Financial Sector Reforms
Project Number 46113-001
Country Turkmenistan
Project Status Dropped / Terminated
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 8755-TKM: Financial Sector Reforms
Technical Assistance Special Fund US$ 500,000.00
Strategic Agendas Inclusive economic growth
Drivers of Change Governance and capacity development
Knowledge solutions
Private sector development
Sector / Subsector

Finance - Banking systems and nonbank financial institutions

Gender Equity and Mainstreaming No gender elements
Project Rationale and Linkage to Country/Regional Strategy

Project Outcome

Description of Outcome
Progress Toward Outcome This TA is temporarily on hold
Implementation Progress
Description of Project Outputs
Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location Ashgabat

Summary of Environmental and Social Aspects

Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design During project design consultations were held with key government agencies including the CBT and MOF as well as with banks, development partners and other relevant stakeholders. Concurrence was obtained through the confirmation by the Central Bank of Turkmenistan (CBT) of aide memoires dated 13 July 2013 and 6 January 2014.
During Project Implementation During project implementation consultations will be held with key government agencies including the CBT and MOF as well as with banks, development partners and other relevant stakeholders.

Business Opportunities

Consulting Services

Indicative Consulting Services Inputs

The TA will require 12.0 person-months of international consultants, comprising 4.5 person-months for a deposit insurance legal expert, 3.0 person-months for an e-signatures legal expert, and 4.5 person-months for a microfinance legal expert. The consultants will work about 80.0% in country (two trips for each consultant) and about 20.0% in their home offices on preparation and report writing. The government has requested all consultants be international, high-level experts who can work directly with CBT staff to build their capacity and provide formal training to select groups. Three individual consultants will be recruited through ADB's consultant management system in accordance with ADB's Guidelines on the Use of Consultants (2013, as amended from time to time). Individual recruitment is justified by (i) the small number of consultants involved with different and narrow expertise, and (ii) individual experience and qualifications in particular areas being the main requirements.


There is no institutional/organizational/procurement/financial management assessments on the EA/IA previously conducted

ADB will administer this PATA.

Responsible Staff

Responsible ADB Officer Michiel Van der Auwera
Responsible ADB Department Central and West Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, CWRD
Executing Agencies
Central Bank of Turkmenistan
22 Bitarap Turkmenistan Street
Ashgabat 744000, Turkmenistan


Concept Clearance 05 Feb 2014
Fact Finding -
Approval -
Last Review Mission -
Last PDS Update 30 Mar 2016

TA 8755-TKM

Approval Signing Date Effectivity Date Closing
Original Revised Actual
12 Nov 2014 09 Dec 2014 09 Dec 2014 30 Sep 2016 - -
Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
500,000.00 0.00 0.00 0.00 0.00 0.00 500,000.00 12 Nov 2014 0.00
Title Document Type Document Date
Financial Sector Reforms: Technical Assistance Report Technical Assistance Reports Nov 2014

Safeguard Documents See also: Safeguards

Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.

None currently available.

Evaluation Documents See also: Independent Evaluation

None currently available.

Related Publications

None currently available.

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