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PASHA Bank Financed Trade Finance Conference

Wednesday, April 16, 2014
News Making Money

EBRD supports Tajikistan’s growing timber processing industry

16/10/2013 14:43 (181 Day 13:54 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 The company’s equipment had become outdated and was unsuitable for large-scale industrial production.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.



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More Republicans See Health Care Stance as ‘Very Important’ to Midterm Vote

12/04/2014 10:42 (3 Day 17:55 minutes ago)

The FINANCIAL -- In looking ahead to this fall’s elections, Republicans are more likely than Democrats to view a candidate’s position on the Affordable Care Act as very important to their vote.



Attack of the Clones: New Kids on the Block Shake Up CEE Consumables Space

12/04/2014 16:44 (3 Day 11:53 minutes ago)

The FINANCIAL -- Thriving sales of cheap new-build compatible products are having a profound impact on the CEE printer and MFP consumables market, according to global market intelligence firm International Data Corporation (IDC).

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