The State concern «Turkmennebit» will receive a loan in the amount of more than 250 million manats to increase oil production through the exploration and development of oil and gas fields. The relevant resolution was signed by President of Turkmenistan Gurbanguly Berdimuhamedov at a government meeting on Tuesday, which was attended by Vice-Chairman of the Cabinet of Ministers Sh. Abdrakhmanov.
According to the document, the Central Bank of the country was ordered to allocate credit funds to the Joint Stock Commercial Bank «Turkmenbashi» for lending to the State Concern «Turkmennebit» in order to finance the planned work to increase oil production through the exploration and development of oil and gas fields.
As noted in the resolution, credit funds are allocated «in order to successfully implement the tasks set for the country's oil and gas industry and ensure the timely implementation of the planned work to increase oil production.»
During the meeting, Gurbanguly Berdimuhamedov recalled that loans had recently been allocated to the State Concern «Turkmengas» and the State Corporation «Turkmengeology». At the same time, the head of state noted that the state would continue to invest in the development of fuel and energy enterprises.
The President focused on the fact that a scientific approach, competent economic and strategic planning are a distinctive feature of economic policy, the successful implementation of which ensures the transformation of the Motherland into a prosperous, economically powerful, strong state capable of investing huge finances in the development of industries.
The head of state expressed confidence that fruitful work would be carried out in the oil and gas complex in the future.
Vice-Chairman Sh. Abdrakhmanov, on behalf of all employees of the fuel and energy complex, expressed gratitude to the President of Turkmenistan for the decision made, assuring that industry specialists would make every effort to successfully and timely fulfill the tasks set by the head of state.
