Ashgabat, Turkmenistan, Jan. 12
By Huseyn Hasanov Trend:
Dovletmuhammet Babayev has been appointed deputy chairman of the State Development Bank of Turkmenistan, according to a decree by the country’s president.
The State Development Bank is entrusted to issue concessional loans to enterprises of various forms of ownership, and it acts as a mechanism that complements the activities of commercial banks in the areas important for social and economic life.
Industry, transport, agricultural production, housing construction, small and medium-sized businesses, urban management, infrastructure facilities within separate regions are among those areas.
The Bank finances state investment projects. The state ensures the capitalization of the bank, provides preferential resources at the expense of the stabilization fund to reduce the final loan rates.
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