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Turkmenistan establishes State Development Bank

Business Materials 10 September 2011 09:56
Turkmen President Gurbanguly Berdimuhammadov signed a decree to establish the State Development Bank of Turkmenistan.
Turkmenistan establishes State Development Bank

Turkmenistan, Ashgabat, Sept.10 / Trend, H. Hasanov /

Turkmen President Gurbanguly Berdimuhammadov signed a decree to establish the State Development Bank of Turkmenistan.

According to the document, as a financial representative of the state for investment projects implemented by the Stabilization Fund, the bank's functions include preferential lending to enterprises and private entrepreneurs, regardless of their form of ownership, implementation of projects to develop production, modernization, opening new jobs.

The Central Bank of Turkmenistan jointly with the Justice Ministry is ordered to prepare a draft charter of the State Development Bank of Turkmenistan in a month and submit it to the country's Cabinet of Ministers.

The structure of the central office has been approved.

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