Turkmen state commercial bank signs memorandum with EBRD
Turkmenistan, Ashgabat, Oct. 20 / Trend H. Hasanov /
The State Commercial Bank "Turkmenbashi" signed a memorandum on technical assistance with the European Bank for Reconstruction and Development (EBRD).
This was the result of a two-day International Investment Forum held in Ashgabat.
EBRD, one of the leading international financial organizations, was founded in 1991. It is the largest private investor and creditor, which provides long-term lending, both in private and public sectors in the region.
In particular, EBRD contributes to the development of small and medium enterprises through a readjustment program of enterprises and a program of business consulting services. The main purpose is to assist the development of commercial and technical know-how taking into account a specific branch of consulting services to potentially profitable enterprises, as well as in improving the legal and administrative conditions for entrepreneurship.
The International Investment Forum, organized by the Turkmen Chamber of Commerce and the British IC ENERGY Limited, was held in Ashgabat on October 18-19, 2010.