Arzuw NEWS - Turkmenistan news

Implementation of the first joint projects of EBRD and Turkmenistan started in 2021

Turkmenistan is preparing to implement в 2021 the first large-scale projects in cooperation with the European Bank for Reconstruction and Development (EBRD). According to an EBRD spokesman A.UsovThe immediate start of the projects is scheduled for the second half of January this year.

As for the investment plans for Turkmenistan for the next year, the representative of the EBRD noted that the bank in this case will take into account the existing demand.

According to the data announced earlier, as of for mid-November, The EBRD's active portfolio for Turkmenistan included 34 projects and €59 million. In 2019 alone, six agreements were signed, the total amount of which amounted to €11 million. The signatories from Turkmenistan were representatives of private businesses. In total, during its activities in Turkmenistan, the Bank launched the implementation of 80 projects, in which invested a total of €292 million.

As Anton Usov said, supporting the development of the private sector in Turkmenistan is one of the prerogatives of the EBRD in the country. In particular, the EBRD provides Turkmen businessmen with an extensive list of services and products. Among them are. long-term funding for local individual firms, as well as guarantees to help borrowers gain access to financing through a special trade-friendliness program involving local partner banks. Business counseling services are available when needed.

First of all, financing from the bank is obtained by individual enterprises whose activities are related to the production and supply of food production, furniture manufacturing, hotel business, transportation and many others.

A representative of the EBRD noted that finances alone are not always the key to a successful business. There are also a number of other factors. Therefore, business advice is no less important in terms of success and sustainable development.


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