With support from the European Bank for Reconstruction and Development (EBRD), Tach Hil, a leading manufacturer of hygiene and cleaning products in Turkmenistan, plans to expand its export markets.
The company now ships its products to countries in the Caucasus, Afghanistan and Central Asia. Tach Hil has received everything from loans to expand its business operations and build new plants, to tailored marketing, and advisory solutions regarding Environmental, Sustainability and Governance (ESG) commitments.
"This helped it overcome the global Covid-19 pandemic and move towards a green transition," the bank said in a press release.
EBRD reports that cumulative investments in Turkmenistan since the beginning of the Bank's operations amount to €324mn. The Bank's current portfolio in the country totals €24mn.
The EBRD provides financing to private companies outside the oil and gas sector, focusing on the food industry and distribution, logistics, transport services, packaging, furniture and hotel business.
"The EBRD's long-term relationship with a client provides comfort to the client to be willing to take on more risk and/or finance, enabling outcomes such as innovation or expansion into new markets".
Eziz Boyarov
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