UAE signs documents on attracting loans to Turkmenistan

Turkmenistan Materials 14 October 2021 09:16 (UTC +04:00)

BAKU, Azerbaijan, Oct. 14


A number of documents on investment and attraction of loans for the implementation of projects in Turkmenistan were signed today following the visit of President Gurbanguly Berdimuhamedov to the UAE, Trend reports citing CentralAsia.media.

Among them is the Agreement on the issuance of a loan for the construction of a chemical plant for the production of mixed mineral fertilizers in the eastern part of Turkmenistan (in Turkmenabat).

Representatives of Türkmenenergo Corporation and Abu Dhabi Future Energy Company PJSC-Masdar signed a Memorandum of Understanding. A similar document was signed by the leadership of the Turkmenbashi International Seaport and the DP World FZE holding.

A number of bilateral documents were signed between the banks of Turkmenistan and the UAE: Agreement between the State Bank for Foreign Economic Affairs of Turkmenistan and the Abu Dhabi Development Fund on the establishment of a closed joint stock company Türkmen maýa goýum kompaniýasy and a Memorandum of Understanding between the State Bank for Foreign Economic Affairs of Turkmenistan and the Department of Economic Development of the Government of Dubai.

As previously reported, agreements on signing a loan agreement on financing the construction of a plant for the production of combined fertilizers at the Niyazov Turkmenabat Chemical Plant and other documents were reached during the visit of the Turkmen delegation to the UAE.

At a government meeting on September 16, Deputy Prime Minister Serdar Berdimuhamedov also said that an agreement had been reached on concluding a framework agreement on the construction of a polyvinyl acetate plant in the Dashoguz region.

In June 2021, the Abu Dhabi Development Fund allocated a loan of about $100 million to Turkmenistan for the construction of an airport in the city of Jebel in the Balkan region and a hybrid solar-wind power plant with a capacity of 10 megawatts in the Serdar etrap of the Balkan region.