Private Turkmen bakery to expand production range thanks to EBRD credit line
European Bank for Reconstruction and Development will grant a loan worth of US$ 6 million loan to Datly Sherbet company, one of the leading bakery producers in Turkmenistan. The share of US$ 1 million will be provided by the International Cooperation and Development Fund (TaiwanICDF). The pastry producer, located in Mary province, plans to allocate the credit funds for launching several new items of confectionery and bakery products, such as wafers and marshmallows. The firm intends to expand the production of pastry. The commissioning of new lines will add to export capacity of Datly Sherbet, already exporting biscuits and cakes. Datly Sherbet belongs to Taze Ay holding, which is long-standing client of the Bank. The financing and business consulting, provided by the Bank’s Advice for Agribusiness team in partnership with TaiwanICDF and the EU Investment Facility for Central Asia, helped to the Taze Ay group to starts a range of new products and obtain international quality certification. Engin Goksu, Bank’s Head of Office in Turkmenistan, expressed the hope that “continued cooperation with the EBRD will help the company obtain the necessary international certification to boost exports”. Moreover, international quality certification will make Datly Sherbet more competitive and will contribute to successfully solving import substitution tasks and increasing exports to regional markets.
