AKIPRESS.COM - The European Bank for Reconstruction and Development (EBRD) will provide US$ 3.5 million loan to a Turkmen manufacturer of PVC profiles Turkmen Penjire.

The loan will support Turkmen Penjire in launching the new production facility. Production is estimated to start in 2017, with an annual output of 3,000 tonnes of profiles. The project will help to replace a sizeable share of the profiles currently imported from Turkey, Iran and China. At the same time, local customers, namely construction companies and micro enterprises assembling frames for households will get a greater flexibility from the closer proximity to the new producer.

The European Union’s Investment Facility for Central Asia (IFCA) has provided technical cooperation grants for the project.

To date, the EBRD has invested about €250 million in Turkmenistan, mainly supporting privately-owned small and medium-sized manufacturers.

The European Union’s Investment Facility for Central Asia (IFCA) has provided technical cooperation grants for the project.

To date, the EBRD has invested about €250 million in Turkmenistan, mainly supporting privately-owned small and medium-sized manufacturers.