OPEC Fund to provide a loan of $10 million for private business projects in Turkmenistan

The OPEC Fund for International Development will provide a loan of $ 10 million to finance private business projects in Turkmenistan. President Gurbanguly Berdimuhamedov signed a resolution the day before allowing the State Bank for Foreign Economic Affairs of Turkmenistan to conclude a loan agreement with the OPEC Fund for International Development to finance projects implemented by entrepreneurs - individuals and legal entities.

As noted in the resolution, this measure was taken in order to attract financial resources to the economy, support small and medium-sized businesses, and provide financial assistance to the development of private entrepreneurship in Turkmenistan.

the State Bank for Foreign Economic Affairs of Turkmenistan of Turkmenistan controls the targeted use of funds.

Submitting to the President a draft of this resolution, Vice-Chairman G. Mushshikov noted that the work carried out in this area was designed to help increase production volumes and increase the export potential of the Turkmen business.

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2014