Minister Nabati: A loan volume of approximately 250 billion lire will be offered with the KGF package

Speaking on the anniversary show of the Agency for the Supervision and Regulation of Insurance and Private Pensions (SEDDK), Finance Minister Nureddin Nebati said that today is the third year of the establishment of SEDDK and on the occasion of the fact that the number of children under 18 years of age in the Private Pension System (BES) exceeds 500 thousand, he affirmed that they were together.

Speaking about the problems in the world economy and the rising prices of energy and raw materials, Nebati said that the highest inflation rates in the last 50-60 years have been seen in many countries, and that there is still no permanent solutions to the problems caused. due to disruptions in supply chains.

He stated that despite the strong winds blowing across the world, they continue to work with great effort and dedication with the understanding of growing Turkey on a stronger foundation and offering a safer tomorrow for citizens in all aspects.

Underlining that Turkey continued to increase production, employment and growth even during the epidemic, Nebati recalled that they positively differentiated in growth in 2020 and grew by 11.4% in 2021, making them the country with the highest growth among the G-20 countries. .

Nebati said, “In 2022, when you talk about the recession in the global economy, our country maintains its strong growth performance with the proactive and production-enhancing practices we have put in place.”

“WE OFFER A LOAN VOLUME OF TL 250 BILLION TO OUR BUSINESSES WITH THE NEW KGF PACKAGE”

Minister Nebati stated that one of the steps taken was the Treasury-backed KGF package, which is in line with the selective credit policy, announced today by AKP President and Chairman Recep Tayyip Erdoğan, continuing his words from the Following way:

* “With this package, we create a significant number of financing opportunities by offering a loan volume of approximately 250 billion lira to our companies operating in many fields, especially our SMEs, in exchange for a guarantee of 200 billion of lire in the first stage. In addition to the grace period, we provide at least 75 percent of the bond backed by Treasury. Thus, fighting inflation, it does not stop the wheels; on the contrary, we increase the productive activities of our entrepreneurs and SMEs”.

Nebati stated that they will ensure that all the expenses related to the loans granted within the scope of the KGF package are integrated with the Central Invoice Registration System of the Union of Financial Institutions and the Invoice Registration System of the Participation Banks of the Union of Participation Banks, and that payments will be made directly to the sellers.

“WE WILL AVOID USING LOANS OUTSIDE THE END”

Finance Minister Nabati stressed that in case of cancellation of an invoice, a new invoice will be requested instead of the canceled invoice and the use of false invoices will be avoided thanks to these systems, and made the following statements:

* “On this occasion, we will prevent the loans granted by our surety line from being used for purposes other than those intended. This transformation process will seriously contribute to the most efficient use of our resources.

* On the other hand, we want to use our line of guarantees, which greatly facilitates the access of our companies, especially our SMEs, to financing within the framework of a more effective and monitoring allocation policy.

* To this end, I would like to point out that companies that have access to credit and do not lack collateral will not benefit from this system. In this way, we will prevent the loans used by those who do not need it from going to a large extent to foreign currency and other items.

* Companies that have credibility but cannot access financing because they do not have sufficient guarantees will benefit from our guarantee facility. In addition, we will support our companies that have the ability to pay but do not have access to loans because they do not have any guarantee”.

“THE SIZE OF THE FUND REACHES THE LEVEL OF 420 BILLION IN BES”

Finance Minister Nabati stated that SEDDK, which is growing rapidly despite being a very young institution, continues to work together with all stakeholders to develop the private pension and insurance sectors with each passing day, and that continue to support this institution as a ministry, he explained that they have taken decisive steps towards the development of their sectors.

Speaking of the regulations implemented in insurance and private pensions, Nebati said: “Taking into account the strategic contributions it has made to our country, we always keep our insurance and private pension sector at the top of our agenda, and we do not hesitate to take bold and decisive measures to support its development”.

Noting that the motivation of citizens to be included in the PPS has increased significantly thanks to the arrangements they have made, Nebati said, “Currently, with the Automatic Enrollment System, our number of participants has reached 15 million and the size of our fund has reached approximately 420 billion lire. I sincerely believe that we will approach our goal of a fund size of 1 trillion lira with safe steps every day.”

Explaining that TCIP has promptly met its obligations in all earthquakes that have occurred since its establishment and has made damage payments of 1.1 billion lira to date, Nebati said that the number of Compulsory Earthquake Insurance policies has approached to 11 million.

Nebati explained that the Agricultural Insurance Fund (TARSİM), which was established in 2005, provides a significant amount of support to farmers and producers every year, noting that a damage payment of 2.5 billion lira was made last year within from the reach of TARSİM.

After the speeches, Minister Nebati and SEDDK Chairman Mehmet Akif Eroğlu presented Masal Tiryaki with the certificate of the BES Memorial Forest, which was established due to the fact that the number of children under 18 in BES exceeded 500 one thousand. the 500,000th child to join the system, and Aras Özkadı, who played in the SEDDK PSA. . (DHA)