OREANDA-NEWS. November 11, 2013. The European Bank for Reconstruction and Development (EBRD) continues to support the private sector in Turkmenistan. In a new deal, the EBRD is lending up to USD 1 million to a leading logistics and transport services provider, Bir Dunya, to finance the purchase of equipment.

The new transportation vehicles, cranes and trailers will help Bir Dunya to offer more services, specifically to oil and gas companies.

Founded in 2008, the company employs 26 people and provides logistics and transport services to local and foreign companies, transporting cargo by sea, road, air and rail.

Technical cooperation for the deal was provided by the EBRD for due diligence of the Project and the Borrower.

“In Turkmenistan, private sector development is a priority for the EBRD which aims to support small private companies like Bir Dunya. Better access to finance for SMEs in Turkmenistan means better opportunities for the people and for the economy”, said Alkis Drakinos, Head of EBRD Resident Office in Ashgabat.

To date, the EBRD has invested about USD 240 million into the country’s economy in over 40 projects, almost all of them in the private sector.