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OPEC Fund For International Development To Loan $45 Million For The Marine Merchant Fleet Project In Turkmenistan

OPEC Fund for International Development to loan $45 million for the Marine Merchant Fleet Project in Turkmenistan

Vienna, Austria (PortSEurope) December 17, 2021 – The OPEC Fund for International Development (the OPEC Fund) will loan $45 million (€39.8 million) for the Marine Merchant Fleet Project in Turkmenistan. The project will include the construction of three new vessels for rail, passenger and dry cargo, one of which will be based in Turkmenbashi seaport on the Caspian Sea. Turkmenistan is also a member of
TRACECA. TRACECA is an internationally recognized programme aimed at strengthening of economic relations, trade and transport communication in the regions of the Black Sea basin, South Caucasus and Central Asia based on political will and common aspirations of all member-states. The TRACECA transport corridor route comprises the transport system of the 13 member-states of the “Basic Multilateral Agreement on International Transport for Development of the Europe-the Caucasus-Asia Corridor”: Azerbaijan, Armenia, Georgia, Iran, Kazakhstan, Kyrgyzstan, Moldova, Romania, Tajikistan, Turkey, Ukraine and Uzbekistan. The project will offer technology-transfer by providing training in shipbuilding and repair to the shipyard’s staff. In addition to boosting trade and economic activity, the project is also expected to create job opportunities. Copyright (C) PortSEurope. All Rights Reserved. 2021.

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