Make it your homepage |   E-mail: Subscribe Unsubscribe

U.S. Businesses Report Growing Optimism about National and Local Economy

Wednesday, April 23, 2014
News Making Money

EBRD supports Tajikistan’s growing timber processing industry

16/10/2013 14:43 (189 Day 01:44 minutes ago)

The FINANCIAL -- The EBRD will provide a US$ 900,000 loan to the Fortuna – a timber processing company operating in Khujand, in northern Tajikistan – to modernise and increase the capacity of its wood processing facilities.



The financing will help Fortuna meet the rapidly increasing demand for good quality timber house fittings in Tajikistan, according to European Bank for Reconstruction and Development.

Fortuna was established in 1996, as an importer of wood and construction products for local markets. As demand grew, the company started a domestic wood processing facility in 2000, introducing a range of locally produced wood products, such as doors and window frames. The company’s equipment had become outdated and was unsuitable for large-scale industrial production. With this EBRD financing, Fortuna will invest in automated wood processing equipment, which will enable it to consolidate its position as a market leader.

“Wood processing is a growing market in Tajikistan, and by supporting Fortuna we will be contributing to the growth of a successful company, as well as to economic growth,” Ulf Hindström, Head of the EBRD’s Resident Office in Tajikistan, said.

“We are very happy to receive the EBRD’s support, which will play an important role in implementing our modernisation strategy,” Dado Ochilov, the founder and director of Fortuna, said.

The EBRD’s Small Business Support team, and the Enterprise Growth Programme, have been advising the company in relation to its production management and about setting quality standards.

To date, the EBRD has invested almost US$ 400 million in 77 projects in various sectors in Tajikistan, according to European Bank for Reconstruction and Development.



Make Your Comment

Add NewSearchRSS
Only registered users and facebook social network members can write comments!

This text is replaced by the Flash movie.
This text is replaced by the Flash movie.
Parliament issues strong call for EU lobby transparency register to become mandatory

16/04/2014 16:53 (6 Day 23:34 minutes ago)

The FINANCIAL -- The report approved by MEPs gives an important signal to the European Commission that a far more ambitious approach is needed to secure genuine lobby transparency in the EU, according to EUbusiness Ltd.



Major Cloud Service Providers Slash Prices; Threaten Smaller Players’ Existence: IDC Warns

19/04/2014 13:40 (4 Day 02:47 minutes ago)

The FINANCIAL -- In the last week of March, major Cloud Service Providers (CSPs) in Asia dropped their prices for core services dramatically and IDC believes that this will make it very difficult for smaller CSPs to remain in business if they continue to rely on provision of basic, undifferentiated services, according to International Data Corporation (IDC).

Developed by Aleksandre Chiabrishvili

Design built by Creo Group