New Treasury-guaranteed support package for exporters and the real sector

Minister of Treasury and Finance Mehmet Şimşek made an assessment regarding the new support package to be implemented within the scope of the Treasury-backed credit guarantee system.

Drawing attention to the importance of selective credit practices within the scope of the new economic program, Şimşek stated that they aim to increase production and exports through this method, highlighting the importance of exports for the country's economy.

Emphasizing that the Treasury-backed credit guarantee system has provided access to finance for many commercial enterprises operating in various sectors that suffer from insufficient collateral to date, Şimşek said, "Within the scope of current economic developments, our work on new support packages focused on investment, exports, sustainability investments, and digital transformation, taking sectoral needs into account, has reached the completion stage."

"LONG-TERM OPPORTUNITY PROVIDED"

Stating that the support packages in question will be utilized in accordance with market conditions and banking principles and policies, while remaining within the existing macroprudential framework of the banking system, Şimşek continued his words as follows:

"We always stand behind our exporters and our real sector, and we continue to support them. With our new support package, we will offer our companies 30 billion liras in credit facilities in exchange for 25 billion liras in guarantees. The new support packages aim to facilitate access to finance for companies experiencing insufficient collateral. The credit facility in question is planned to be provided through credit guarantee institutions. In general, maturities of up to 24 months for operating loans and up to 120 months for investment loans can be determined in the packages."

CREDITS WILL BE UTILIZED AFTER PROTOCOL STUDIES

Minister Şimşek stated that while determining the allocated guarantee limits, it is planned to transfer the unused limits of other packages with similar purposes to these new packages, adding, "After the completion of the protocol studies between our Ministry and the Credit Guarantee Fund (KGF), Export Development Inc. (İGE), and Participation Finance Guarantee Inc., disbursements under the new support packages will begin."