The Bank for Foreign Economic Affairs of Turkmenistan executes loan agreement with Deere Credit Inc.

The President of Turkmenistan signed the Resolution, authorizing the State Bank for Foreign Economic Affairs:

– on behalf of the Government of Turkmenistan – the Recipient of the loan, to execute a loan agreement with the creditor – Deere Credit Inc. (USA) for seven-year period to finance 85% of the cost of agricultural machinery and equipment purchased by entrepreneurs – individuals and legal entities – from John Deere Walldorf GmbH & Co.KG, to register all necessary documents related to the loan agreement, their entry into force and management;

– to conclude internal credit agreements for up to 7 years with banks serving entrepreneurs – individuals and legal entities that purchase agricultural machinery and equipment.

 

Source: Turkmenistan State News Agency-TDH

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