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EBRD to allocate loan to Turkmen company for PET preforms production

Finance Materials 15 July 2020 16:15 (UTC +04:00)
EBRD to allocate loan to Turkmen company for PET preforms production

BAKU, Azerbaijan, July 15

By Jeila Aliyeva - Trend:

The European Bank for Reconstruction and Development (EBRD) will provide a loan of $2.5 million to Turkmenistan's Ak Gap company, Trend reports with reference to the Business Turkmenistan information portal.

The allocated funds will be used to to modernize the existing equipment for the production of PET preforms and screw caps.

Thanks to the investment, the company will be able to increase the manufacture capacity of screw caps, which in turn will lead to the export of products to other countries.

The total cost of the project is $3.5 million.

As EBRD told Trend previously, since the start of its operations in Turkmenistan, 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.

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

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Follow the author on Twitter: @JeilaAliyeva

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