Turkmenistan gets $ 300 mln loan from Chinese bank

ASHGABAT, Nov 5 (Reuters) - China's Export-Import Bank will lend Turkmenistan 0 million to help the gas-rich nation develop its industrial base, Turkmenistan's state media reported on Monday.

Media reported the agreement was signed on the sidelines of a meeting between Chinese Premier Wen Jiabao and Turkmen President Kurbanguly Berdymukhamedov in the Central Asian state at the end of last week.

State media reports did not provide any other details of the loan. The Chinese bank could not be reached for comment.

Berdymukhamedov came to power last year after the death of his long-serving and isolationist leader, Saparmurat Niyazov.

The new president has taken steps to open the country to foreign investors and develop closer ties with strategic regional players such as China.

UNI