BAKU, Azerbaijan, June 8
By Jeila Aliyeva - Trend:
The State Commercial Bank of Turkmenistan Halkbank has offered small-scale loans to entities involved in the country's agriculture industry, Trend reports with reference to Arzuw NEWS.
The bank provides the loans in order to implement state policy aimed at developing agriculture and cattle breeding and providing the population with high-quality domestic food at affordable prices, the report said.
The loan is up to 30,000 manat ($8,578), with an interest rate of 10 percent, a term of payment in three years, and with a grace period for six months. As a security for the loan, a guarantee of the solvent third party or property on pledge is required.
To be eligible for loan, the entrepreneur must provide documents confirming the allocation of land and the availability of a stable income of the borrower. In addition, it is necessary to submit collateral documents and other papers as required by the bank.
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