Minister of Treasury and Finance Mehmet Simsek stated that they are always behind exporters and the real sector and said, “With our new support package, we will offer a loan opportunity of ₺30 billion to our companies in return for a guarantee of ₺25 billion.”
Minister of Treasury and Finance Simsek made an evaluation about the new support package to be implemented within the scope of the Treasury-supported credit guarantee system.
Drawing attention to the importance of selective credit practices within the scope of the new economy program, Simsek stated that they aim to increase production and exports in this way and pointed out the importance of exports for the country’s economy.
Simsek emphasized that, to date, the Treasury-supported credit guarantee system has provided access to financing to many commercial enterprises operating in various sectors and experiencing insufficient collateral. “Within the scope of current economic developments, taking into account sectoral needs, our work on new support packages focused on investment, export, sustainability investments and digital transformation has reached the completion stage.”
“Long term opportunity is provided”
Stating that the support packages in question will be provided within the existing macroprudential framework in the banking system, in accordance with market conditions and banking principles and principles, Simsek continued his words as follows:
“We always stand behind our exporters and our real sector and continue to support them. With our new support package, we will offer a loan opportunity of ₺30 billion to our companies in return for a guarantee of ₺25 billion. The aim of the new support packages is to facilitate access to financing for companies experiencing insufficient collateral. The loan facility in question is planned to be provided through credit guarantee institutions. In general, the packages can be set with a maturity of up to 24 months for business loans and up to 120 months for investment loans.”
Loans will be disbursed following the protocol studies.
Minister Simsek stated that while determining the allocated guarantee limits, it is planned to transfer the unused limits of other packages with similar purposes to the new packages and said, “After the completion of the protocol studies between our Ministry and Credit Guarantee Foundation Inc, Export Development Inc. and Participation Finance Bail Inc, disbursements within the scope of the new support packages will begin. “
Source: Trthaber / Prepared by Irem Yildiz