Change of Management at the State Development Bank of Turkmenistan
There have been personnel changes at the State Development Bank of Turkmenistan. By the Decree of the President of Turkmenistan, Serdar Bayramov was relieved of his post as Chairman of the Bank, and Dovletmammet Seyidov was appointed to this post. The relevant Decrees were signed on July 12, 2025.
The State Development Bank of Turkmenistan, established by the Decree of the President in September 2011, plays a key role in the national economy. It acts as a financial agent of the state, responsible for issuing long-term concessional loans. These loans are aimed at implementing projects financed from the development fund in order to stimulate economic growth and development of key sectors, increase and diversify enterprise productivity, support private entrepreneurship and create new jobs in the country.
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