Turkmenistan

Taze Ay receives $4.5m from EBRD to increase halal meat production

Halal

Turkmen meat producer Taze Aye will receive a loan worth 4.5 million dollars from the European Bank for Reconstruction and Development (EBRD) to expand its halal meat production. The company's halal products currently represent 12% from its total production.

Posted on Sep 26 ,10:02

Taze Ay receives $4.5m from EBRD to increase halal meat production

 

The loan is provided in cooperation with TaiwanICDF (International Cooperation and Development Fund) which will finance a third of the total sum, the EBRD statement read.

Through this funding, the family-owned Turkmen company will be able to expand its daily production of halal products from the current 3-4 tons to 15 tons. Furthermore, Taze Aye plans to buy new refrigerator trucks, which will help it increase sales across the country during the extremely hot summer period.

"The EBRD’s cooperation with Taze Ay is a very good example of how a combination of financing and advisory services has helped the company to double its sales. Since our first advisory project with Taze Ay in 2013 the company managed to expand production, become more efficient, improve quality and design of their products and as a result grow into a market leader," Victoria Zinchuk, Head of EBRD Advice for Agribusiness, said.

A new marketing strategy, supported by the EBRD, will allow Taze Ay to start exporting its halal and other products, made according to traditional and popular recipes, to neighboring countries in Central Asia and the Caspian region.

"The Bank is continuing to work successfully with long-established clients despite an overall challenging economic environment. The EBRD's work directly supports the Turkmen government’s economic diversification strategy by strengthening local private ‎firms across various sectors," Engin Goksu, EBRD Head of Turkmenistan, said.

In addition, the EU’s Investment Facility for Central Asia will provide over €50,000 to help the company finance project preparation and business development plans.

 NEWSLETTER - Stay informed with the latest news!

Comments





Similar articles

NEW ZEALAND

New Zealand farmers reject National Farmers’ Union of England lamb claims

"New Zealand upholds high animal welfare and environmental standards, making it an ideal partner ...


Read more Read more
GERMANY

Vion: Management change in Crailsheim

As of 1 June this year, Vion will be handing over the management of the Crailsheim abattoir to ne...


Read more Read more
USA

Queensland grainfed beef delegation to US

MLA partnered with Toowoomba and Surat Basin Enterprise (TSBE) and Trade and Investment Queenslan...


Read more Read more
Websolutions by Angular Software and SpiderClass