- EBRD US$ 2.5 million loan to Turkmen agribusiness company Parahat
- Greater operational efficiency, improved range of products
- EU IFCA grant will helped comply with the ISO Food Safety Management System standard
The European Bank for Reconstruction and Development (EBRD) is supporting privately owned businesses in Turkmenistan affected by the Covid-19 pandemic. The latest transaction will help the country’s leading juice and dairy products producer Parahat replenish necessary working capital, improve efficiency, widen its product range and increase exports to neighbouring markets.
A US$ 2.5 million loan will allow Parahat to acquire specialised equipment for reconditioning and refilling glass bottles, packaging fruit, vegetable purees and concentrates, as well as a new PET packaging line to bottle soft drinks.
Once installed, the equipment will help Parahat achieve cost savings through the reuse of glass containers for its soft drinks production. New packaging equipment will increase the shelf life of its products sent as samples to potential buyers, improve their transportability and stimulate exports of its vegetable and fruit concentrates.
The European Union’s Investment Facility for Central Asia (IFCA) has supported Parahat with grant funding, allowing it to fully comply with the ISO 22000:2005 Food Safety Management System.
Since the start of its operations in Turkmenistan, the EBRD has invested €293 million through 80 projects in a wide range of sectors.