$1.2 million loan to Salkyn to diversify production
The EBRD is lending $1.2 million to Salkyn, one of the largest ice cream producers in Turkmenistan, to help the company expand its distribution network and build up its brand.
Salkyn is a privately-owned ice-cream producer located in Mary region, in the south-east of Turkmenistan. The company produces over 70 types of ice-cream for a range of various segments and aims to further expand its product variety.
The proceeds of the EBRD loan will help Salkyn to purchase new retail fridges with the view to strengthen Salkyn’s distribution network, as well as refrigerated chambers, which will be located in the company’s regional distribution hubs. In addition the EBRD financing will support the development and the implementation of Salkyn’s branding strategy.
“Supporting the development of the private sector in Turkmenistan is one of the EBRD’s key priorities. We are pleased to provide the much needed financing for further development of Salkyn in the current market conditions,” said Honma Masaru, EBRD Director for Central Asia.
“The EBRD loan will support our strategy to widen Salkyn’s distribution network with the view to bring quality produce at affordable prices to consumers throughout Turkmenistan”, said Orazdurdy Mantyev, Salkyn Chief Executive Officer.
Since the beginning of its operations in Turkmenistan the EBRD has invested close to €110 million in the country’s corporate, energy, infrastructure and financial sectors, mobilising additional investments worth close to €390 million.
To date the EBRD has invested more than €5 billion in over 360 agribusiness projects in countries of its operations.