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In the framework of the Investment Facility for Central Asia, the Commissioner responsible for European Union International Cooperation and Development, Mr. N. Mimica and the President of the European Bank for Reconstruction and Development, Sir Suma Chakrabarti signed on 14 November 2018 the Agreement on the action "Advice for Small Businesses in Turkmenistan” to which the EU contributes with grant funding of EUR 5.35 million, with the aim to strengthening the competitiveness of SMEs in Turkmenistan.
This new business advisory project benefitting Turkmenistan as a symbol of how the two institutions EU and EBRD, long standing partners in promoting investments in Central Asia support businesses in Central Asia. The signing ceremony took place in the margins of the Central Asia Investment Forum co-hosted by EBRD and the Peoples' Bank of China in Beijing.