THE ANNOUNCEMENT
About delivery of the credit for training in higher educational institutions of the foreign states

With an aim of implementation of a policy of the President of Turkmenistan in a sphere of education, and also according to a uniform monetary and credit policy of the Central bank of Turkmenistan spent in Turkmenistan, the State Bank for Foreign Economic Affairs of Turkmenistan declares delivery of the long-term credit to physical persons - to residents of Turkmenistan for training in higher educational institutions of the foreign states.

1) The credit is given on payment for educational process of the day form (with a separation from manufacture) in a higher educational institution of the foreign state;

2) For credit reception the following package of documents is represented in bank:

• the credit demand or the petition of the physical person - the borrower;
• the document proving the identity (the borrower and the payer of the credit);
• the inquiry on income sources (the payer of the credit);
• documents confirming, receipts (transfer into the next academic year) the borrower in a higher educational institution of the foreign state, including, contracts with a higher educational institution of the foreign state, invoices, accounts;
• other documents valid requested by bank.

3) The credit is given in the form of the open demand line of credit. Payments under the credit are carried out by single (annual) or two-single (semi-annual) payments for every academic year before the beginning of that.

Since second academic year each subsequent payment for the next academic year is carried out after repayment of 90 % of debts on the previous payment for the last academic year. Also for realization of the subsequent payments for the credit account it is necessary to give before the beginning of next academic year to Bank the documents confirming transfer of the student on the next academic year.

4) Interest rate level under credits is established in each case individually taking into account the rate of refinancing established by Central Bank of Turkmenistan and level of credit risk.

Contact phones: 40-61-17, 40-61-04