EBRD lends $10M to Eurasian Machinery Kazakhstan
The European Bank for Reconstruction and Development (EBRD) is improving the efficiency of agriculture, construction, infrastructure and mining in Kazakhstan and across Central Asia by supporting the operations of Eurasian Machinery Kazakhstan (EMK), a leading supplier of excavators and other specialist equipment, ebrd.com reports.
EMK, an official distributor of Hitachi Construction Machinery and other internationally recognised brands of industrial machinery, will use an EBRD loan of up to US$ 10 million (€8.9 million) to meet its long-term working capital requirements. The funds will help the company to better manage its warehouse stock, acquire spare parts for its repair and rebuild operations, and expand its service department.
The project will also allow EMK to scale up its operations in Kazakhstan and the wider region, as well as improve the technical skills of its staff through tailor-made training programmes.
The EBRD has invested almost US$ 13.6 billion (€12 billion) in Kazakhstan to date through 361 project, making the country the largest and longest‑running recipient of EBRD investment in Central Asia.
Earlier, it was reported that the EBRD had provided up to $16 million to support green finance and entrepreneurship in Tajikistan.
