The Ministry of Finance of Turkmenistan is to allocate 300 million manats from the Stabilization Fund as calculating assets for the period of 10 years to the State Development Bank that is to provide an interest-free loan to Rysgal Joint-Stock Commercial Bank affiliated with the Union of Industrialists and Entrepreneurs. The President of Turkmenistan signed the relevant Resolution during the recent meeting of the Cabinet of Ministers.

In accordance with the Resolution Rysgal Joint-Stock Commercial Bank is authorized to provide loans at not higher than 1 per cent per annum from the aforesaid allocation to the members of the Union of Industrialists and Entrepreneurs. These loans are to be used to finance the entrepreneurs’ projects for promotion of livestock farming, poultry farming and agricultural, food and industrial production and processing.

This decision is adopted with the view to build a competitive market economy, develop agriculture and industry and create new jobs.