OREANDA-NEWS. July 09, 2009. The TurnAround Management (TAM) and Business Advisory Services (BAS) Programme (TAM/BAS Programme) of the European Bank for Reconstruction and Development was presented in the Turkmen capital. The ceremony organized by the EBRD Representative Office in Turkmenistan brought together the specialists of the leading ministries and departments, experts of the national and joint stock commercial banks, heads of enterprises, including the private sector.

Opening the meeting Charlotte Salford, Director of the TAM/BAS Programme expressed gratitude to the President and the Government of Turkmenistan for the cooperation and assistance in organizing the presentation. Focusing on the significance of the Programme the guest emphasized that this project aimed to promote development of the private sector of the national economy. In this context emphasis was put on the EBRD’s willingness to provide assistance in advanced training of Turkmen partners. As is known, the study the practice of the world’s largest, including European banks and introduction of the advanced methods for financial management are of particular importance for the large-scale economic reform initiated in the country. That conditioned the participants’ keen interest in the EBRD’s proposals.

The presentation included the overview of the EBRD’s activities and the aims and objectives of the TAM/BAS Programme. One of the leading international financial institutions, the EBRD was founded in 1991. This is the largest single investor in the region. It invests mainly in private enterprises and provides project financing for the financial sector and the real economy.

The EBRD’s TAM/BAS Programme helps private enterprises to adapt to the demands of a market economy. It works directly with individual micro, small and medium-sized enterprises, providing industry specific advice through a multi-tiered approach. The Programme focuses on substantial managerial and structural changes within companies, providing the advisory services of experienced senior executives from economically developed countries and supports short-term projects with narrowly defined objectives and develops a sustainable infrastructure for business advisory services.

The objectives of the TAM/BAS Programme in Turkmenistan include promotion of professional development of managerial personnel, maintenance of the business environment conducive to development of entrepreneurship, assistance in the growth and competitiveness of enterprises, investment attraction, market development and personnel training.