EBRD to extend loan to meat producer in Turkmenistan
The European Bank for Reconstruction and Development (EBRD) is stepping up its support for private small and medium-sized enterprises in Turkmenistan with funding to Taze Ay, a processed meat producer based in the southern city of Mary, the bank reported on October 7.
The EBRD, in cooperation with the Taiwan International Cooperation and Development Fund, will extend $800,000 to Taze Ay, of which the bank will provide $560,000 and the fund the remaining $240,000. The funding will enable Taze Ay to expand its production capacity by about 25 percent.
Taze Ay has been supported by the EBRD since 2013, receiving financing for new production lines and distribution network expansion along with business advice on quality, food safety and company management from the EBRD’s Advice for Agribusiness team.
“Supporting local entrepreneurs which strive to satisfy local
demand with quality products is one of our priorities in
Turkmenistan,” Engin Goksu, EBRD Head of Office in Turkmenistan
said.
To date, the EBRD has invested over $260 million in Turkmenistan,
mainly in privately owned manufacturing companies.
---
Follow us on Twitter @AzerNewsAz
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!