The State Bank for Foreign Economic Activity of Turkmenistan informs that in cooperation with the Abu Dhabi Fund for Development - ADFD a closed-type joint-stock company "Turkmen Investment Company" was established.
Reportedly, this will facilitate the implementation of Turkmenistan's investment policy and help provide financing for projects aimed at developing the local economy.
The ADFD noted that in February 2021 it signed a Memorandum of Understanding with the Government of Turkmenistan, which provides for the establishment of a joint investment company with a target capital of $100mn.
The documents were signed at the time by Mohamed Saif Al Suwaidi, Director General of ADFD; and Rahimberdy Jepbarov, Chairman of the Board of the State Bank for Foreign Economic Activity of Turkmenistan.
Credits: Eziz Boyarov, Ashgabat
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