On December 22, Hani Salem Sonbol, Chief Executive Officer of ITFC and Rahimberdi Jepbarov, Chairman of the Board, State Bank for Foreign Economic Affairs of Turkmenistan signed a framework agreement worth 150 million US dollars online. It was reported by the press office of ITFC on December 23.
The money will be partly directed to enhancing partnerships in trade financing for the import of essential commodities. The funds will also be used to support the agricultural and textile sectors, small and medium-sized businesses, and expand the trade potential of Turkmenistan.
According to Sonbol, the agreement is focused on post COVID-19 pandemic recovery of the economy of the Central Asian country. Jepbarov, in turn, noted that Turkmenistan is glad to be a member of ITFC.
On December 18, the Islamic Development Bank approved financing of a 90.15 million dollars project for the development of maritime transport in Turkmenistan. It will help expand the capacity of the Turkmenbashi International Seaport.
