Turkmenistan to issue preferential loans to farmers
Ashgabat, Turkmenistan, Mar. 6
By Huseyn Hasanov– Trend:
Turkmen banks will issue preferential loans to agricultural producers and non-state entities, according to the appropriate decree of Turkmen President Gurbanguly Berdimuhamedov.
The loans will be issued to rural associations, farms, agricultural joint-stock companies, agricultural research institutions, landowners and tenants, as well as private entrepreneurs.
The Turkmen banks may allocate preferential loans at one percent interest per annum for the period of 10 years for the purchase of agricultural equipment, machinery and tools, water-saving irrigation equipment, according to the document.
The loans for financing investment projects related to the development of animal husbandry and poultry farming, processing and provision of services, as well as for the acquisition of fixed assets and property can be issued for the period of up to 10 years at five percent interest per annum, said the decree.