Sight credit protocol between exporters and 11 banks

The Turkish Exporters’ Assembly (TIM) and 11 banks have signed a protocol for a loan package for sight exports.

Alpaslan Çakar, President of the Turkish Association of Banks (TBB), said: “We have met with 11 TBB member banks to reach an agreement on an export package of approximately USD 1 billion. $1 million for our SME clients and $5 million for non-SME clients. TL-denominated loans also amount to TL 20 million or TL 100 million, excluding SMEs and SMEs. As a form of payment they may use a loan with a maturity of 36 months or an installment loan with a maturity of 24 months.

Çakar said: “We have around 115 thousand export clients. We export more than one billion dollars to 52 countries. To reduce the current account deficit, it is necessary to support exports. I hope that the cooperation between TBB and TIM will be beneficial for our export clients”.

THE PACKAGE COMES FOR THE GREEN TRANSFORMATION

TİM President Mustafa Gültepe said: “As the export figures grow, the need for financing also increases at the same rate. The most important key to achieving great goals is funding. The key to this lock is in our banks. We will continue with our banks in the process of high inflation and financial bottleneck. We have a common problem: growing Turkey’s economy and increasing its prosperity. We are opening a new window in the access of our exporters to financing”.

Thanking our public and private banks on behalf of 115,000 exporters, Gültepe stated that, in addition to this loan package, they continue to work with banks for the need for financing of sustainable green transformation, and said: “We will share that package when it is fully integrated. and the sentient work is completed.”

Details are yet to come…