Technical training in the Turkmen Financial sector

Project information

The overall objective of the project was to contribute to economic transition and diversification in Turkmenistan, and thus to the peaceful development of the country and its integration into the international community.
The specific objective consisted in boosting the development of the Turkmen financial sector at large by designing and delivering a high-quality, coherent and comprehensive training program in the capital city of Ashgabat.
The trainees were professionals from the CBT and other financial authorities, such as the Treasury Department of the Ministry of Economy and Finance, as well as from non-bank financial institutions and other entities entrusted with direct financial responsibilities, such as the financial departments of ministries and state-owned enterprises; also, the Finance, Economy and Business faculties of high education institutions. 
9 one-week training/academic modules were produced and implemented (including one simulation training given by two trainers), then delivered by selected professional and/or academic Belgian trainers based on a well-defined homogeneous methodology (teaching material) and with strong monitoring standards.
The training content was determined jointly by the BBA and the CBT based on assessment of the needs and priorities, as well as past and current related initiatives. The programme was tailored to the economic and financial developments in Turkmenistan: stepping up of the policy oriented towards the promotion of foreign investment; monetary reform - redenomination of the national currency Manat; expansion and deepening of the relations between the EU and Turkmenistan with the related opening of a "Europa House"; plans to substantially upgrade the education sector; recognition of Turkmenistan’s international role in the energy sector, to which Belgium is seeking to contribute long term.
The training modules were tailored to the target groups - executives and managers of the Turkmen financial sector. The methodology implied mixing junior and more advanced professionals. The total number of trained participants reached approximately 270 people (30 participants per module).

Status : Closed

Date : 10-2009 -> 06-2010

Countries : Turkmenistan