MANILA, Nov. 15 (Xinhua) -- The Asian Development Bank (ADB) and the Turkmenistan government signed on Thursday a 500-million-U.S.-dollar loan to strengthen Turkmenistan's transmission network, improve the reliability of the country's power supply, and increase electricity exports to neighboring countries.

The Manila-based bank said the National Power Grid Strengthening Project is the first project by any international financial institution in the power sector in Turkmenistan.

The ADB said the 500 million U.S. dollars assistance will finance the construction of about 1,100 km of new 110 kilovolts (kV), 220 kV, and 500 kV transmission lines in various areas in Turkmenistan and expand three existing substations.

The project will also finance the construction of new substations, including 500 kV substations in Balkan region and Dashoguz, as well as 220 kV substations in Ahal, Balkan, and Dashoguz, the ADB said.

According to an ADB statement, the project will cover four of the country's five regions and help establish an interconnected national transmission grid to improve reliability and energy efficiency of the network.