China provides Yuan 200 mln preferential credit to Turkmenistan for development of telecommunications

Turkmenistan Materials 16 December 2006 12:17 (UTC +04:00)

(Turkmenistan.ru) A credit agreement signing ceremony between State Bank of Foreign Economic Activity of Turkmenistan and Export-Import Bank of China took place in Beijing.

The credit was issued in accordance with the framework agreement signed by the governments of Turkmenistan and China in April 2006. The credit will serve the purpose of financing purchases and supplies of telecommunication equipment and spare parts for the Ministry of communications of Turkmenistan, reports Trend.

It should be recalled that during Turkmen President Saparmurat Niyazov's visit to China in April this year the heads of two states signed a number of agreements aimed at intensification of partnership in development of telecommunications. Turkmenistan implemented a number of large joint projects jointly with Chinese specialists. These projects include construction of digital automatic exchanges, fiber-optic communication lines Farap-Turkmenabat-Atamurat-Magdanly, Tejen-Serahs and Ashgabat-Dashoguz, expansion of capacity of the National cellular communication network TM CELL and radio access network CDMA.