The Procedure for granting loans to small and medium-sized businesses for development of national software products and production of equipment, as well as for purchase and commissioning of finished products was approved in Turkmenistan. The document is published on the legal information portal of the Ministry of Justice of Turkmenistan.

According to the document, a loan is allocated for development of national software products and production of equipment for a period of 5 years at 2% per annum with a grace period of 2 years, for purchase and commissioning of finished software and equipment – 3 years with a grace period of 6 months.

Loans are granted for the following purposes:

1) Purchase of domestic software (including employee training costs, if this is provided for by the software supply contract);

2) Acquisition of equipment, hardware and software in the field of digital technologies;

3) Measures for installation, assembly and commissioning of equipment, hardware and software in the field of digital technologies (including the costs of training employees, if this is provided for by the supply contract);

4) Purchase of computers, servers and network equipment for development of domestic software products and production of equipment in the field of digital technologies, as well as their installation, assembly and commissioning;

5) Settlements with persons performing works and services for development of domestic software products and production of equipment;

6) Acquisition of software, intellectual property rights (licenses, property rights);

7) Expenses for a set of measures aimed at sales of domestic digital products, services and platform solutions in the field of information technology;

8) Improvement of automated and information systems jointly with implementation of specific plans for engineering works, works and services for installation, assembly and commissioning of purchased equipment, as well as development of technical documentation for introduction of domestic digital products, services and platform solutions in the field of information technology.

SME entities that have a license of the Agency of Transport and Communications under the Cabinet of Ministers of Turkmenistan and do not have arrears on loans and taxes will be able to apply for preferential lending. In addition, entrepreneurs need to get a positive conclusion from the Agency "Turkmensvyaz" (Turkmen Communications).