German Commerzbank ready to expand partnership with Turkmenistan

Finance Materials 23 October 2020 10:02 (UTC +04:00)
German Commerzbank ready to expand partnership with Turkmenistan

BAKU, Azerbaijan, October 22

By Jeila Aliyeva - Trend:

German’s Commerzbank AG is ready to deepen its partnership with Turkmenistan, Trend reports with reference to Turkmenistan’s State News Agency

This was stated during a videoconference of representatives of Commerzbank and Turkmenistan’s Ministry of Finance and Economy, the Central Bank, and the State Bank for Foreign Economic Affairs.

During the meeting, representatives of Commerzbank discussed prospects for cooperation with Turkmenistan, taking into account macroeconomic reforms and ongoing transformation programs.

Earlier, the parties also discussed the prospects of cooperation. The participants also focused on the digitalization of the financial sector of the country, noted the positive impact of the exchange of experience and practice in the development of the financial sector, and stressed the need to work following international standards.

As reported, Turkmenistan plans to attract investments received from foreign banks and financial organizations for lending to industries.

In particular, the necessary conditions have been created to ensure security and guarantees for foreign investors and creditors, which in turn has contributed to the growth of interest of foreign entrepreneurs to participate in Turkmenistan's projects.


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