EBRD names total amount of investments in Turkmenistan

Turkmenistan Materials 6 June 2021 21:25 (UTC +04:00)
EBRD names total amount of investments in Turkmenistan

BAKU, Azerbaijan, June 6

By Jeila Aliyeva - Trend:

The European Bank for Reconstruction and Development’s (EBRD) cumulative investments in Turkmenistan since the beginning of operations stand at $350 million, the representative of EBRD Anton Usov told Trend.

"The Bank’s current portfolio in the country is $85 million," noted Usov.

He also noted that the EBRD is exploring project opportunities in the banking and municipal sectors.

As earlier Usov told Trend, EBRD’s portfolio for Turkmenistan amounts to 59 million euros and 34 projects in mid-November 2020.

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 a 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 earlier.

"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.

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