EBRD to allocate loan to Turkmen beverage company

Turkmenistan Materials 15 October 2021 19:54 (UTC +04:00)
EBRD to allocate loan to Turkmen beverage company

BAKU, Azerbaijan, Oct. 15

By Farida Nuri - Trend:

The European Bank for Reconstruction and Development (EBRD) will provide $3 million to the 'Biyat' company, the second-largest beer producer in Turkmenistan, Trend reports on Oct.15 citing Business Turkmenistan.

Information about this is reflected in the project summary documents published on the website of the EBRD.

According to the bank, the loan will be used to finance a new production line for processing waste grain into feed for animals and fish.

Biyat will also use the loan to diversify its product range and improve its distribution network, as well as to replenish the required working capital.

Established in 1996, the company manufactures drinks under the "Zip" brand.

Since the start of its activity in Turkmenistan, the EBRD has invested about 300 million euros in over 80 projects.