Minister Şimşek's statement on Türk Eximbank: 'The goal is to increase the international competitiveness of our exporters'

Minister of Treasury and Finance Mehmet Şimşek announced that the "Türkiye Green Export Project," carried out by Türk Eximbank and guaranteed by the World Bank, has been approved by the World Bank Board of Executive Directors, and made statements regarding the matter.

Şimşek shared the following from his assessments:

"Within the scope of the project in question, Türk Eximbank will provide a loan of 1 billion euros from various creditors. The World Bank will provide a guarantee for 600 million euros of the 1 billion euro loan to be provided by Türk Eximbank to support green transformation and green exports, and the Ministry of Treasury and Finance will provide a counter-guarantee. Thanks to this, it will be possible for Eximbank to borrow from international markets with longer maturities and lower costs."

"THE DRIVING FORCE OF THE TURKISH ECONOMY"

Regarding the project, Şimşek assessed, "With the 600 million euro loan guarantee provided by the World Bank, long-term financing will be provided to exporters by Türk Eximbank to support green transformation and green exports. Thus, it is aimed to eliminate the negative effects of the European Union's Carbon Border Adjustment Mechanism and increase the international competitiveness of our exporters, who are the driving force of the Turkish economy."

Emphasizing that they are determined to continue their strong cooperation with the World Bank to support the country's green transformation and exporters, Şimşek stated, "While keeping domestic demand under control, we are directing our resources to more productive and efficient areas, and we are mobilizing all our opportunities for exports. We will continue to use a significant portion of the resources we provide through external financing for our exporters."

CONTROL IN CONSUMPTION GROWTH

Stating that they are providing strong support for investment and exports while keeping consumption growth under control through fiscal, monetary, and selective credit policies, Şimşek said, "Thus, we are achieving an improvement in the growth composition and current account balance."

Reminding that Türk Eximbank has secured 3.7 billion dollars in resources from foreign capital markets and international financial institutions to support exporters' projects related to green transformation, Şimşek reported that they expect such credit and resource inflows to continue.

Şimşek noted that they have prioritized exporters' access to finance during this period and that consecutive increases have been made to Türk Eximbank's capital.

News Source: 12punto