ASHGABAT, Turkmenistan: Indian Prime Minister Narendra Modi on a visit to Turkmenistan backed stronger energy ties with the gas-rich ex-Soviet state.
Meeting Turkmen President Gurbanguly Berdymukhamedov for talks in Ashgabat, the Indian premier backed an ambitious project to build a pipeline from Turkmenistan to deliver its vast energy resources to India.
The long-planned gas pipeline project, named TAPI, would be “a key pillar of economic engagement between the two countries” and have a “transformational impact,” the leaders said in a joint statement released on Modi’s website.
The leaders “reaffirmed their strong commitment toward timely implementation of this strategic project for the common benefit of peoples of the four countries.”
Berdymukhamedov said after the talks that the gas pipeline project “is already entering the final stage and soon we will start the practical implementation.”
“We are standing on the threshold of a remarkable event,” the Turkmen leader said.
“Apart from the economic rationale for all the participants in the project, TAPI is aimed at making a large contribution to strengthening stability in the region,” he said, adding it would create 12,000 new jobs in Turkmenistan’s neighbor Afghanistan.
Berdymukhamedov thanked Modi for India’s “steady support for the TAPI project and its constructive position at all the preparatory stages.”
In a gesture of friendship toward India, Berdymukhamedov said a statue of Mahatma Gandhi and a traditional Indian medicine and yoga center would be opened later Saturday in Turkmenistan’s showpiece capital
Turkmenistan, which borders Iran, has the fourth largest reserves of natural gas in the world but suffers from a lack of pipeline infrastructure.
The TAPI pipeline is set to cross Afghanistan and pump gas to Pakistan and India.
The 1,800 kilometer (1,100 mile) pipeline project valued at up to $10 billion however faces security concerns in Afghanistan and ballooning costs.
Turkmenistan and India back pipeline project
Turkmenistan and India back pipeline project
Saudi Arabia’s NDF unveils strategic partners for MOMENTUM 2025 conference
RIYADH: Saudi Arabia’s National Development Fund has unveiled the lineup of strategic partners for the Development Finance Conference MOMENTUM 2025, as the Kingdom accelerates efforts to build a more integrated development-finance ecosystem.
The conference, scheduled for Dec. 9–11 at the King Abdulaziz International Conference Center in Riyadh, will bring together policymakers, lenders and global development institutions as the Kingdom seeks to expand financing channels for key sectors.
Saudi National Bank and Arab National Bank are named Main Partners, while Riyad Bank will serve as Banking Partner, NDF said in a press release.
Bank AlJazira and Saudi Awwal Bank join as Enabling Partners, and public-sector participants include Invest Saudi, the Made in Saudi Program, and the Saudi Conventions and Exhibitions General Authority.
Riyadh Municipality also joins the list as the host city partner, while Saudi Post is the logistics partner for the conference.
“Collectively, these partnerships advance the conference’s vision of fostering collaboration among public and private sectors, contributing to Saudi Vision 2030 objectives,” the release said.
Organized by NDF, this year’s conference is convened under the theme “Leading Development Transformation.”
MOMENTUM 2025 reflects the NDF’s central role as a principal enabler of development in the Kingdom and as a strategic driver of the national development finance system through its 12 affiliated development funds and banks.
“Through this conference, NDF aims to align efforts, amplify impact, enhance coordination and integration, and build meaningful partnerships with leaders across the public and private sectors. Together, these efforts are intended to ensure sustainable growth and empower strategic sectors to deliver on national and global development goals,” the release added.
The program will feature more than 100 speakers from over 120 local and international entities, further underscoring the conference’s role as a national forum supporting the leadership’s vision of building a dynamic financing ecosystem that empowers key sectors.
Several princes, ministers, senior officials, CEOs, global leaders, development experts, and economists are scheduled to attend the conference.
The event will spotlight the contribution of the private sector and small and medium-sized enterprises in elevating the Kingdom’s economic growth, generating jobs, and boosting competitiveness.
