The European Bank for Reconstruction and Development presented its annual report in Ashgabat on 20 February. The "Transition Report" is compiled on the basis of monitoring in 30 countries where EBRD operates. Experts use 4 groups of indicators in the report - private entrepreneurship, markets and trade, financial institutions and infrastructure.

The delegation of EBRD headed by economist Heike Harmgart arrived in Ashgabat to present the report to representatives of Turkmenistan''s largest banks and a number of ministries and organizations.

According to EBRD, Turkmenistan has made great progress in carrying out the economic reform. As Heike Harmgart emphasized, the analysis of the situation gives us every reason to believe that Turkmenistan is well placed to counteract the negative effects of the global economic crisis and minimize its implications owing to preventive measures. It was noted that establishment of Stabilization Fund and other financial-bank reforms helped strengthen financial positions of the country.

EBRD sees great prospects for the long-term economic growth of Turkmenistan, Heike Harmgart said. In this regard, the biggest European bank expressed readiness to expand cooperation with Turkmenistan on some important issues, including investments to the private sector, the Turkmen State News Agency (TDH) said.