Turkmenistan borrows over $6 billion in 2009
Turkmenistan, Ashgabat, Dec.28 / Trend , H.Hasanov /
Agreements were reached on foreign investment projects reaching $6 billions in Turkmenistan in 2009, President Gurbanguly Berdimuhamedow said.
He added that "our country is attractive for investments with our solid economic potential," a state press service said.
China issued a large portion of the loans, providing $4 billion for the commercial development of the Southern Yolotan Field.
Recently, a loan agreement package was approved by the Islamic Development Bank.
"This is yet more evidence of the immense interest of foreign business circles in increasing cooperation with Turkmenistan," Berdimuhamedowv said.
A month ago, the president said Turkmenistan is among those nations that "do not have foreign public debt. On the contrary, some countries have debt for Turkmen natural gas supplies."
Turkmenistan is among four major global fuel sources with proven natural gas reserves.
According to the forecasts of an independent audit, Southern Yolotan's resources are estimated at 14 trillion cubic meters of gas.
Traditional markets for Turkmen gas were Russia and Iran in recent years, and China will be added to this list by late 2009.
The government noted that to stimulate foreign investment growth in Turkmenistan, taxes, customs, visa, insurance and other benefits have been provided, which create favorable conditions for long-term capital investment.