Turkmen entrepreneurs will be able to buy John Deere agricultural machinery on credit

Turkmen entrepreneurs will be able to buy John Deere agricultural machinery on credit

Turkmen entrepreneurs will have the opportunity to buy agricultural equipment of the American company John Deere on credit. The corresponding decree, in order to provide state financial support to entrepreneurs, was signed by President Gurbanguly Berdimuhamedov.

The document allows External Economic Relations Bank of Turkmenistan, on behalf of the government, as the recipient of the loan, to work with Deere Credit (USA) to prepare documents related to the loan agreement, to carry out operations on their entry into force. The loan will be used to finance 85% of the cost of agricultural machinery and equipment purchased by Turkmen entrepreneurs – individuals and legal entities from John Deere.

The decree of the head of state also allows the Bank to enter into internal credit agreements for up to 8 years with banks servicing entrepreneurs purchasing agricultural machinery and equipment.