Turkmenistan provides lending to SMEs
Ashgabat, Turkmenistan, Aug. 19
By Huseyn Hasanov – Trend:
Lending to small and medium enterprises (SMEs) is being carried out in Turkmenistan, Trend reports referring to the State Bank for Foreign Economic Affairs of Turkmenistan.
Lending is subject to 85 percent of the cost of investment projects aimed at financially supporting Turkmenistan’s agricultural producers, introducing innovative, modern and leading technologies, increasing land yields, improving the housing and social conditions of the rural population, and creating new jobs.
Loans are offered at 1 percent per annum for up to 10 years for the purchase of agricultural machinery, tools, and equipment for saving water and irrigation systems.
Loans at 5 percent per annum for up to 10 years are issued for the development of livestock and poultry, development and expansion of own agricultural production, development of the production of industrial materials, organization, expansion, reconstruction and technical re-equipment of existing production facilities, and the production of handicrafts and applied arts.