BAKU, Azerbaijan, December 11
By Jeila Aliyeva - Trend:
The European Bank for Reconstruction and Development (EBRD) has contributed to the growth of tomato production in Turkmenistan, Trend reports with reference to EBRD.
In particular, EBRD gave $ 2.5 million loan to Turkmen 'Agromar' tomato producer for the extension of the company’s production facilities.
According to the message, Agromar plans to use the EBRD loan for an expansion of its hydroponics greenhouse, in particular, to construct additional 5 ha of greenhouses with advanced cooling systems.
The goal is to increase the annual production capacity from 1,500 tons to 3,000 tons with the majority of output aimed at export markets.
“Agromar is a well-established brand on the home market as well as in Russia, Kazakhstan and Kyrgyzstan,” says the report, noting that the Russian tomato market, with annual sales of close to $1 billion and an import share of 45 percent, represents an attractive opportunity for Turkmen producer.
The loan is supported by the EBRD’s Finance and Technology Transfer Centre for Climate Change (FINTECC) program designed to transfer technology in the area of climate change mitigation and adaptation and financed by the Global Environmental Facility (GEF).
Since the start of its operations in Turkmenistan, the EBRD has invested 293 euros million through 80 projects in a wide range of sectors.
As it was reported earlier, Turkmenistan and EBRD intend to intensify cooperation in a number of areas, including projects in the field of energy, transport, development of small and medium-sized businesses and others.
During the meeting, the parties noted the need to adapt joint activities to the current situation, including the COVID-19 pandemic.
---
Follow the author on Twitter: @JeilaAliyeva