EBRD, EU provide another support to small, medium-sized businesses in Turkmenistan
BAKU, Azerbaijan, October 27
By Jeila Aliyeva - Trend:
The European Bank for Reconstruction and Development (EBRD) in partnership with the European Union (EU) contributes to the development of small and medium-sized businesses in Turkmenistan, Trend reports with reference to the Union of Industrialists and Entrepreneurs of Turkmenistan.
In particular, to develop small and medium businesses in Turkmenistan, the EBRD and the EU will hold an online workshop "Diagnosing the Condition of Your Business as a Tool for Company Growth", designed for business leaders and small and medium-sized business owners.
Earlier, international industry experts provided through an ongoing assistance program of the EBRD and EU helped Turkmen Ak Hunji company to access new export markets. EBRD and EU helped the company introduce ISO 9001:2015, a quality standard required to start exporting its products to Kazakhstan, Georgia, and Ukraine, and provided support to introduce a financial reporting system following international principles in the last three years.
In addition, EBRD provided US$ 1.8 million in financing to expand Ak Hunji’s business through the construction of new production facilities and the launch of a new XPS (extruded) polystyrene product line a few months ago.
As reported, since the start of its operations in Turkmenistan, European Bank for Reconstruction and Development (EBRD) has invested 272 million euros through 70 projects in a wide range of country’s sectors.
In particular, these investments enabled more than 200 small and medium-sized enterprises in the country to access business advice.
Follow the author on Twitter: @JeilaAliyeva