Erdogan announced a new loan package

President Recep Tayyip Erdoğan spoke at the Ziraat Bank Agricultural Ecosystem Meeting at the Haliç Congress Center.

The highlights of Erdogan’s speech are as follows:

* First, we start with the good news that we will implement the Farmer Support Loan. The annual interest rate of this loan, which will be granted up to TL 250,000 per person, will be 9.75 percent and the maturity period will be up to 36 months.

* “Our second piece of good news is the Agricultural SME Loan. Thanks to this loan, we want to ensure that the added value of final goods remains with our producers for small and medium-sized companies that process agricultural products.

* The upper limit of our loan is 15 million TL, and the annual interest rate is 4.75 percent, excluding the part paid by the state.

* Terms of up to 10 years for investment loans and up to 24 months for commercial loans may apply.

* This loan can be used in many commercial activities, such as milk and dairy products, fruit ice cream, fruit juice, tomato paste, jam, marmalade, organic agricultural products.

* Our third title is Farm Debt Transfer Loan.

* The upper limit of this loan, which will be 5 million liras, has an interest rate of 9.75 percent and a maturity of 60 months.

* We will make sure that our farmers, who have used high loans from other banks, can close with loans at affordable interest rates in our Ziraat Bank.

* I say to our General Manager of Ziraat Bank, let’s increase the credit limits of young women farmers from 500 thousand lira to 1 million lira.

* Hopefully, we will implement the regulation that will allow Ziraat Participation, as well as Ziraat Bank, to provide low-cost financing to our farmers.