OREANDA-NEWS. September 12, 2011. The State Development Bank of Turkmenistan is established in accordance with the Decree of the President of Turkmenistan. The State Development Bank of Turkmenistan as the financial representative of the state in investment projects through the Stabilization Fund is to perform the functions of providing concessional loans to enterprises and entrepreneurs irrespective of the form of ownership which implement the projects for development of production, modernization and creation of new jobs.

The Central Bank of Turkmenistan in collaboration with the Ministry of Justice of Turkmenistan is to draft the Charter of the State Development Bank of Turkmenistan and submit it to the Cabinet of Ministers of Turkmenistan for consideration within one month.