Caspian Energy Journal Caspian European Club
Wednesday, 21 November 2018 15:00

EBRD to boost small business in Turkmenistan

EBRD to boost small business in Turkmenistan

Scores of small and medium-sized enterprises (SMEs) in Turkmenistan will benefit from the EBRD’s Advice for Small Businesses programme, funded by the European Union, Caspian Energy News ( reports with reference to the press statement of the European Bank for Reconstruction and Development.

The initiative is part of an effort to help develop the private sector in Turkmenistan and diversify the economy. Local small businesses face numerous challenges, including difficulties in accessing adequate finance. By improving their standards in a wide range of business areas, such as financial skills, marketing and project management, the companies involved in the programme will gain confidence and the know-how they need to grow and increase competitiveness.

The programme also aims at strengthening the local consultancy market by providing training to Turkmen business consultants.

In close coordination with EU Technical Vocational Education and Training Institutions (TVET) institutions, the programme will also disseminate best practices in key sectors such as agribusiness, construction, transport, textiles, tourism as well as manufacturing and services. The EU is providing €5.34 million in support of the programme.

To date, the EBRD has invested €262 million in Turkmenistan’s economy, with an overwhelming focus on supporting private entrepreneurship.

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Person in charge of the newsline: Olga Nagiyeva 


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