AKIPRESS.COM - The Asian Development Bank (ADB) has appointed Mr. C. C. Yu as its new Country Director for Turkmenistan. He assumes office today, ADB reports.
Mr. Yu will lead ADB’s operations in Turkmenistan and take the lead in the implementation of the bank’s Country Partnership Strategy, 2017–2021. The plan aims to help the country become a catalyst for regional cooperation and integration by diversifying its markets and repositioning itself as a trade and transit hub in Central Asia. A strong focus is also on enhancing the country’s transport and energy sectors, as well as support for health, education, and food security.
“I am delighted to be in Turkmenistan at this critical juncture of cooperation between Turkmenistan and ADB,” said Mr. Yu. “ADB has a long-standing partnership with the country and is committed to supporting the government’s development objectives through our country partnership strategy. Together with my team, I look forward to supporting the diversification of export markets for Turkmenistan’s energy products and supporting private sector development to create jobs and help the country achieve its development goals.”
Mr. Yu, a Canadian national with a Ph.D. from the University of Toronto, has been with ADB since 2000. He has around 25 years of professional experience in results-based management, project and sector evaluation, country development operations, and environmental safeguards.
Prior to leading ADB’s Resident Mission in Turkmenistan, Mr. Yu worked as a Lead Institutional Coordination Specialist for the bank’s Central and West Asia Department. He also served as ADB Country Director for Tajikistan from 2012 to 2017, as well as a Principal Results Management Specialist at ADB’s Strategy, Policy, and Partnerships Department, supporting the bank’s efforts to improve its results delivery with its country partnership strategies.
ADB’s development partnership with Turkmenistan began in 2000. Since then, ADB has supported the country to diversify its economy and increase its regional connectivity. In November 2018, ADB approved the Country Operations Business Plan, 2019–2021, for Turkmenistan, with committed lending amounting to $150 million and another $690 million for prospective projects to develop the country’s transport and transit potential, promote energy exports, and advance private sector operations.
ADB is committed to achieving a prosperous, inclusive, resilient, and sustainable Asia and the Pacific, while sustaining its efforts to eradicate extreme poverty. In 2018, it made commitments of new loans and grants amounting to $21.6 billion. Established in 1966, it is owned by 68 members—49 from the region.