BAKU, Azerbaijan, June 22. The Central Bank of Turkmenistan has developed a procedure for issuing preferential loans to small and medium-sized enterprises for the development of their own software, as well as for the purchase and implementation of domestic software already created by other firms, Trend reports citing Orient news.
According to the new procedure, loans for the development of software and necessary equipment will be issued for a period of five years at two percent per annum (with a two-year grace period). A loan for the purchase and commissioning of domestic software production will be provided for a period of three years at two percent per annum (with a six-month grace period).
Loans will be provided on condition that 15 percent of the funds for the implementation of the project will be allocated from the company's own reserves.
The procedure was developed in accordance with the decree of the President of Turkmenistan on financial support for entrepreneurs in the development and implementation of domestic software dated August 27, 2021.