Loan volume for private sector announced in Turkmenistan for 2014
Ashgabat, Turkmenistan, Jan.18
By Huseyn Hasanov - Trend:
Turkmenistan will allocate loans worth $100 million to private entrepreneurs in 2014, according to the Turkmen government's statement.
"The loans worth 300 million manat or $ 100 million will be delivered to private entrepreneurs in 2014," according to Turkmen President Gurbanguly Berdimuhamedov's statement at the meeting of the Cabinet of Ministers.
Moreover, the president stressed that the local construction companies will be charged with implementation of some projects, as well as using various investments worth $ 16 billion.
Turkmen banks deliver the long-term and short-term loans for investment projects and business plans, according to the president's order.
The long-term loans are delivered for making investment in fixed assets up to 10 years under five percent per annum on the basis of the regulations. The short-term loans are delivered for up to one year to purchase working capital. The delivered loans may be in national and foreign currency, according to the report.
Turkmen businessmen work in different areas, namely, construction, trade, agriculture, industry, education, tourism, advertising and publishing.
Moreover, local business corporations are actively participating in international tenders.
translated by NH