EBRD supports small and medium business in Turkmenistan
Turkmenistan, Ashgabat, August 24/ Trend, H. Hasanov /
European Bank for Reconstruction and Development implements the program for financing small and medium business in Turkmenistan.
State Commercial Bank of Turkmenistan, Halkbank became the participant of the program by signing an agreement with EBRD on providing the bank with credit line, according to the information from Halkbank.
Halkbank offers various types of loan products for supporting small and medium business in Turkmenistan. One of these types of services is the crediting of small and medium business subjects through EBRD.
The target groups of EBRD program are small and medium enterprises, as well as individual entrepreneurs engaged in the spheres of trade, service, construction and production. Given that the spectrum of these enterprises is extremely wide, the offered loans take into account their individual characteristics and the volumes of financing.
Loans are issued to borrowers to expand, modernize the existing business and to implement new investment projects.
Credit line will be accompanied by technical support of consultants from German Frankfurt School of Finance & Management Company, which has been working in Turkmenistan's banking sector since 2010, Halkbank said.
The decision on issuing loan is adopted jointly with the participating bank and international credit consultant. The current financial position of the borrower, as well as the credit history of the customer are important factors in decision-making.
The advantage of this program are free consultations for preparation of documents and for the issues of financial planning rendered by the bank's experts jointly with international consultants. The work with borrower is carried out individually on the basis of establishing a long-term and mutually beneficial cooperation between the bank and the borrower.