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China Loans Turkmenistan $300 Million

A view of the Trade Center in the Turkmen capital, Ashgabat (ITAR-TASS) August 22, 2006 -- Turkmen President Saparmurat Niyazov has authorized the State Bank for Foreign Economic Activities to accept a $300 million loan from China's Export-Import Bank.

The official website quotes Niyazov's office as saying China's 20-year loan will be used to build a glass factory and revitalize Turkmenistan's largest fertilizer plant, Mariazot.


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