BAKU, Azerbaijan, September 30
By Jeila Aliyeva - Trend:
The European Bank for Reconstruction and Development (EBRD) is strengthening small and medium-sized enterprises (SMEs) in Turkmenistan with working capital financing needed to support their operations affected by coronavirus pandemic, Trend reports citing EBRD.
For instance, the EBRD is providing $1.5 million to Turkmen food producer Alem Gamisi, in order to help the company manage increased delivery terms and transportation costs due to the crisis.
Since the start of its operations in Turkmenistan, the EBRD has invested 286 million euros through 79 projects in a wide range of sectors, the reports says.
As earlier, the representative of EBRD Anton Usov told Trend, up to 5 new deals may be signed between EBRD and Turkmenistan before the end of 2020
Usov noted, that situation is fluid now due to the COVID-19 pandemic, but they still plan to implement these projects.
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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