Financing of 450 million dollars from the World Bank to SMEs affected by the earthquake

Industry and Technology Minister Mehmet Fatih Kacır said the World Bank approved $450 million in financing for SMEs in the earthquake zone.

In his statement to journalists, Kacır stated that the relevant source will pay zero interest, with a maturity of up to three years and repayment in the third year, through KOSGEB.

Kacır stated that negotiations for the financing of the Japan International Cooperation Agency (JICA) are continuing, and that they plan to complete this financing within a month.

According to the information provided by Kacır, the financing is done to prevent SMEs from closing down after earthquakes and help them maintain employment. (Reuters)