EBRD reveals total investments volume in Turkmenistan

Finance Materials 2 July 2020 17:45 (UTC +04:00)
EBRD reveals total investments volume in Turkmenistan

BAKU, Azerbaijan, July 2

By Jeila Aliyeva - Trend:

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, the representative of EBRD Anton Usov told Trend.

In particular, these investments enabled more than 200 small and medium-sized enterprises in the country to access business advice, Usov added.

Talking about EBRD's future investments, Usov said the bank will allocate a loan to Turkmenistan’s Ak-hunji company, which is engaged in the production of building materials.

"The loan will be allocated at the end of July 2020," the representative said while not specifying the loan amount.

Usov added that EBRD may provide similar loans to other Turkmen companies if the right opportunities emerge.

Earlier this year, EBRD and the European Union have supported the growth of Turkmenistan’s dry cleaning business.

Furthermore, the bank allocated a loan worth $1.3 million to support a private Rysgally El company that produces hygienic goods.

Usov added that EBRD plans to continue supporting private sector development, both directly and indirectly via local partner banks including provision of funds to privately-owned companies focusing on food processing and distribution, logistics, transport services, packaging, furniture, and hospitality.

The European Bank for Reconstruction and Development pays special attention to expanding private sector activities in Turkmenistan’s corporate and financial sectors, he noted.
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