The banks of Turkmenistan will provide loans for the creation of national software products and the production of equipment, as well as for the purchase and commissioning. The corresponding Resolution was signed today by President Gurbanguly Berdimuhamedov, the State News Agency of Turkmenistan reports.
In accordance with the document, small and medium-sized businesses will be allocated loans for a period of 5 years at 2% per annum with a grace period of 2 years - for projects in the field of software development and equipment production, and for a period of 3 years with the same interest rate and a grace period 6 months - for the purchase and implementation of ready-made software products and equipment.
The procedure for issuing loans will be prepared by the Central Bank, the Ministry of Justice, the Ministry of Finance and Economy, the Transport and Communications Agency and the State Service “Turkmenstandartlary” within two months.
Signing the document, President Gurbanguly Berdimuhamedov noted that financing projects of representatives of Turkmen business is of great importance for the modernization and dynamic development of the production sector, stimulates the creation of diversified import-substituting and export-oriented industries.