EBRD to lend $1.2m to Turkmen logistics company
Azerbaijan, Baku, Feb. 7 / Trend E. Kosolapova/
The European Bank for Reconstruction and Development (EBRD) will lend $1.2 million to Turkmen private company DGT Logistics Turkmenistan, the bank reported on Monday.
DGT Logistics is planning to use the EBRD loan to purchase a range of transport vehicles and freight-handling equipment. Since the beginning its operations in Turkmenistan the EBRD has invested more than $700 million in over 30 projects.
DGT Logistics Turkmenistan is one of the leading private companies providing cargo transport and logistics services in Turkmenistan. DGT Logistics Turkmenistan mainly works in the oil and gas sector, where major investments are driving up demand for its services.
The EBRD's strategy in Turkmenistan is to support small and medium-sized enterprises that have difficulty gaining access to bank financing, and the private sector.