EBRD names current active portfolio for Turkmenistan
BAKU, Azerbaijan, November 12
By Jeila Aliyeva - Trend:
The current active of the European Bank for Reconstruction and Development (EBRD) portfolio for Turkmenistan amounts to 59 million Euros and 34 projects, the representative of EBRD Anton Usov told Trend.
There were 6 signings with the total value of 11 million Euros with private Turkmen companies in 2019, he says, adding that since the beginning of the EBRD’s operations in the country, the bank has signed 80 projects with the total cumulative Bank investment of 292 million Euros.
Supporting private sector development is one of the key strategic priorities for the EBRD in Turkmenistan, he noted.
“In Turkmenistan the Bank offers a range of products and services to entrepreneurs including long-term finance directly to local private sector firms, guarantees to help borrowers gain access to financing through our Trade Facilitation Programme via local partner-banks, and business advisory services,” added Usov.
Usov said, that EBRD provide financing to private companies engaged in manufacturing, food processing and distribution, logistics, transport services, packaging, furniture, hospitality and other.
“Financial investment projects are at the heart of our operations. But finance alone often cannot meet all challenges facing small and medium-sized businesses. That's why in addition to finance the EBRD helps SMEs access the business advice they need to grow and succeed,” he said.
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