According to a statement published in the Official Gazette of Turkey, two new support programs have been launched to facilitate Turkish exporters' access to finance and strengthen their competitiveness in global markets.
Scope and purpose of the programs
According to a statement from the Ministry of Commerce:
- Buyer loans provided by Turkish Ex-Im Bank will now be supported not only for medium- and long-term loans, but also for short-term letter of credit transactions.
- Financial cost support will be provided for investment goods exported under foreign contract projects.
- In case of non-repayment of buyer loans, 25 percent of the risk accepted by the bank will be covered, up to an annual limit of 1 billion Turkish lira.
- The scope of support for export consortia created by at least three companies has been expanded. Activities such as premises rental, installation/architectural costs and storage services will be eligible for support. In addition, each target market will be supported for up to five years.
Expected impact
According to local media reports, the new funding is aimed at making it easier for exporters to enter new markets at affordable prices, lowering barriers to financing and increasing confidence in trade in high-risk markets.
Industry representatives said the measures will help combine Turkey's manufacturing capabilities with its
