search.noResults

search.searching

dataCollection.invalidEmail
note.createNoteMessage

search.noResults

search.searching

orderForm.title

orderForm.productCode
orderForm.description
orderForm.quantity
orderForm.itemPrice
orderForm.price
orderForm.totalPrice
orderForm.deliveryDetails.billingAddress
orderForm.deliveryDetails.deliveryAddress
orderForm.noItems
The OPEC Fund loan will fund SMEs across sectors that include construction,


SMEs to drive economic diversification


manufacturing, agriculture and agro-processing, and paper.


The OPEC Fund extends first ever private sector loan to Turkmenistan he OPEC Fund extends first-ever private sector loan to Turkmenistan L


acking access to finance is one of the most pressing barriers for small-and medium-sized enterprise (SME) growth in Turkmenistan, according to a survey carried out across the country’s


five regions by the Centre for International Private Enterprise. While the government has undertaken measures to promote private sector growth, state-owned enterprises still outweigh SME presence.


ABOUT SBFEA ABOUTSBFEAT


Turkmenistan’s SBFEA – the largest bank country – was established in 1992 and is a 100 percent state-owned entity. The Bank currently has 309 employees, three branches and some 375,000 customers.


as established in 1992 and is a 100


has 309 employees, three branches and some 375,000 customers.


urkmenistan’s SBFEAT the largest bank in the country –


the


Representing its first private sector transaction in the country, the OPEC Fund recently signed a US$10 million term loan in favor of the State Bank for Foreign Economic Affairs of Turkmenistan (SBFEAT). The financing will enable the bank to better support the SME sector and provide crucial impetus for SME contribution to economic growth. In 2018, Turkmenistan’s government launched


‘The State Program for Supporting Small and Medium Entrepreneurship’ and its main goals include ensuring socio-economic development continues at pace, that private sector-led activity increases quickly, and that manufactured goods and services provided by SMEs increase in number and competitiveness in foreign markets.


The OPEC Fund’s loan will directly support these goals. The proposed facility will target export-oriented


SMEs, which is expected to diversify the country’s foreign currency earnings. The loan will also be used to fund equipment purchases for selected SMEs across sectors that include construction, manufacturing, agriculture and agro-processing, and paper. “The OPEC Fund is directly supporting the goals of the government’s program with this transaction,” said OPEC Fund Director-General Dr Abdulhamid Alkhalifa. “We are pleased to assist socio-economic development efforts by supporting Turkmenistan to diversify its economy and generate employment opportunities.”


28 PHOTO: Thiago B Trevisan/Shutterstock.com


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47