EBRD Lends $2.5 Million to Turkmen Food Products Producer Parahat

BUSINESS TURKMENISTAN
EBRD Lends $2.5 Million to Turkmen Food Products Producer Parahat
The latest transaction will help the Parahat company improve efficiency, widen its product range and increase exports to neighboring markets. (Photo: EBRD)

European Bank for Reconstruction and Development (EBRD) lends $2.5 million to Parahat Individual Enterprise, a leading producer of juices and dairy products in Turkmenistan, the EBRD reported on Tuesday.

The EBRD said the latest transaction will help the Parahat company replenish necessary working capital, improve efficiency, widen its product range and increase exports to neighboring markets.

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, according to the report.

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.

Parahat IE is the producer of Eçil and Joş juices, Özi soft drinks, Süýtli Dere milkshakes, Han Çaý iced teas and Ýeserje baby purees.

Since the start of its operations in Turkmenistan, the EBRD has invested €293 million through more than 80 projects in a wide range of sectors.