Project description
and objectives:
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The framework facility is to enable local private banks to on-lend to small
and medium enterprises (SMEs). The major private bank Senagat will be the
first bank to draw a credit line from the framework. The sub-loans will be
disbursed in US dollars to finance imports of capital goods by private SMEs
established and working in Turkmenistan. The EU has agreed to finance
associated technical co-operation assignments to facilitate the implementation
of the project.
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Sub-projects:
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Transition impact:
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Enhancement and expansion of competition in the SME and other sectors.
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Promotion of private ownership and stimulation of reforms of institutions,
law, policies that promote market.
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Transfer and dispersion of banking skills through provision of training to the
bank officers.
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Demonstration of new replicable behaviour/activities including transparent SME
lending and co-operation with independent advisors.
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The client:
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Any local private bank can be adopted in the framework as long as it meets the
EBRD criteria with the two major ones being the private ownership and the
creditworthiness. Senagat, which is a long standing EBRD client and the major
private bank in the country, will be the first bank adopted in the programme.
The credit line will complement the already high exposure of Senagat to local
SMEs.
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EBRD finance:
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Framework of USD 5 million including credit line to Senagat: USD 2 million.
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Total project cost:
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USD 5 million.
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Environmental impact:
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Screened FI. Under the proposed SME Credit Line II Partner Banks (PBs) will be
required to implement EBRD’s Environmental Procedures for Small and Micro
Loans, including the Exclusion and Referral List, to all sub-loans supported
through the Facility as well as submit a respective Annual Environmental
Report to the EBRD.
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Technical
cooperation:
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The EU is funding the following assignments to assist the bank with
implementing the Framework:
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Turkmenistan – Local Credit Advisors Programme: In progress. The independent
advisors will ensure the high quality of sub-loan proposals of the
participating bank and train the banks’ loan officers in EBRD-compliant
lending and monitoring techniques.
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Banking Sector Training Initiative: Completed. A series of training courses in
corporate and bank credit analysis, banking product development and marketing
and bank governance.
For consultant opportunities for projects financed by technical cooperation
funds, visit procurement
of consultants.
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Company contact:
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Mr Eyeberdy Atayev, Chairman, Board of Directors of JSCB Senagat
42 Turkmenbashy street,
744000 Ashgabat,
Turkmenistan
Telephone/fax: 0099312 35 06 90/0099312 45 44 09
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EBRD contact:
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Tony Myron, Operation Leader: myront@ebrd.com
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Business opportunities:
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For business opportunities or procurement, contact the client company.
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General enquiries:
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EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168; Fax: +44 20 7338 7380
Email: projectenquiries@ebrd.com
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