Turkmenistan Coca-Cola Bottlers (TCCB) has received a loan of $10m from the European Bank for Reconstruction and Development (EBRD) for the expansion of its production process.

This financing will help the firm in the purchase of energy efficient coolers, new vehicles and bottling machines.

The company will provide training to local small and medium-sized enterprises (SMEs) to help them meet its standards and potentially become suppliers.

EBRD Turkmenistan operations head Engin Goksu said: “We are pleased to continue our work with Turkmenistan Coca-Cola Bottlers and support the company’s expansion and energy efficiency drive.

"We are pleased to continue our work with Turkmenistan Coca-Cola Bottlers and support the company’s expansion and energy efficiency drive."

“This loan reflects the EBRD’s top priorities in Turkmenistan, boosting foreign direct investment in this market and supporting local value chains. Being a supplier to a company like Coca-Cola can make a massive difference to a local start-up business.

“We are already supporting one company in Turkmenistan that became a supplier thanks to its improvements in quality; the new project will see more SMEs in the country have a chance to raise standards to international levels.”

Coca-Cola Içecek (CCI) subsidiary TCCB is a bottler of Coca-Cola branded beverages in Turkmenistan.

In 2011, EBRD provided a $20m loan for expansion of production capacity in Turkmenistan and in 2015, the bank provided a €45m loan for CCI’s expansion in Tajikistan.

Image: EBRD to offer financial assistance to Turkmenistan Coca-Cola Bottlers. Photo: courtesy of European Bank for Reconstruction and Development.