Turkmenistan banks boost lending volumes in the Orient
Turkmenistan’s Banks Show Significant Increase in Lending
In 2024, Turkmenistan’s banks have demonstrated a remarkable increase in lending activities, particularly towards the private sector, including small and medium-sized enterprises. The growth in lending to agricultural producers by 30.7% is a highlight, showcasing government support for the agricultural sector and aiming to boost agricultural output.
Furthermore, there has been a steady rise in mortgage lending, indicating improved access to housing for citizens. As of January 1, 2025, the volume of mortgage loans issued to citizens for real estate purchases in cities like Ashgabat and Arkadag, as well as in the velayats, saw a 16.2% increase. This data was presented by the Central Bank at a government meeting on Friday, as reported by “Neutral Turkmenistan”.
The surge in lending volumes plays a vital role in the country’s economic development, enhancing living standards for the population, and driving growth in the construction sector.
-ORIENT
