European Bank for Reconstruction and Development (EBRD) approved $3 million in loans for Biýat Economic Society, the second largest beer producer in Turkmenistan, according to the bank’s Project Summary Document (PSD) disclosed on Thursday.
The EBRD said the loan will finance the company’s new production line, which will help process spent grain into animal and fish feed.
The company will also use the loan to diversify its product range and improve distribution network as well as to replenish its necessary working capital.
Biyat ES, operating in Turkmenistan since 1996, is the producer of Zip branded beverages.
Since the start of its operations in Turkmenistan, the EBRD has invested around €300 million through more than 80 projects in a wide range of sectors.