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.

http://turkmenistan.gov.tm/_eng/?id=15180