EBRD reveals total investments volume in Turkmenistan

Talking about EBRD's future investments, Usov said the bank will allocate a loan to Turkmenistan’s Ak-hunji company, which is engaged in the production of building materials.

"The loan will be allocated at the end of July 2020," the representative said while not specifying the loan amount.

Usov added that EBRD may provide similar loans to other Turkmen companies if the right opportunities emerge.

Earlier this year, EBRD and the European Union have supported the growth of Turkmenistan’s dry cleaning business.

Furthermore, the bank allocated a loan worth $1.3 million to support a private Rysgally El company that produces hygienic goods.

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.