EBRD talks about planned projects with Turkmenistan

Finance Materials 7 September 2020 12:42
EBRD talks about planned projects with Turkmenistan

BAKU, Azerbaijan, September 7

By Jeila Aliyeva - Trend:

Up to 5 new deals may be signed between European Bank for Reconstruction and Development (EBRD) and Turkmenistan before the end of 2020, the representative of EBRD Anton Usov told Trend.

Usov noted, that situation is fluid now due to the COVID-19 pandemic, but they still plan to implement these projects.

Since the beginning of 2020, EBRD has signed 3 projects with Turkmenistan, in particular, with Turkmenistan’s Datly Sherbet, Ak Hunji, Safa companies.

Collectively all these 3 projects were worth $19.3 million.

As earlier Usov told Trend, since the start of its operations in Turkmenistan, EBRD has invested 272 million euros through 70 projects in country’s economic sectors.

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

Also, earlier 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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