New guarantee request for Eximbank loans

Minister of Treasury and Finance Mehmet Şimşek stated that they have begun a new era in exporters’ access to loans from Turk Eximbank and said: “Turk Eximbank will provide loans with different types of guarantees, in addition to letters of guarantee, to solve the problem of financing problems of companies dedicated to value-added and high-tech exports.” saying.

Stating that they prioritized exporters’ access to financing during this period, Şimşek recalled that for this they increased the capital of Türk Eximbank by 49 percent to 20.6 billion lira in July.

Stating that they have begun a new era in exporters’ access to Turk Eximbank loans, Şimşek said that Turk Eximbank has taken another important step in its strategic transformation program, which was initiated to meet the goal of profit-oriented growth. exports of the country and was prepared in line with the best international practices.

Noting that one of the main issues addressed by Türk Eximbank in the strategic transformation program is the implementation of mechanisms that facilitate exporters’ access to financing, Şimşek said: “Türk Eximbank offers loans with different types of guarantee in addition to letters warranty. in order to solve the financing problems of companies dedicated to value-added and high-tech exports.” saying.

PRIORITY TO HIGH-TECH EXPORTS

Şimşek stated that when designing these mechanisms, their goal was to prevent companies that export value-added and high-tech products from being unable to increase their exports due to financial difficulties.

“In this regard, Turk Eximbank has completed and implemented its efforts to allow exporters to use loans with different types of guarantee in addition to letters of guarantee, and has taken an important step to facilitate exporters’ access to financing. “By diversifying the guarantee structure, our exporters will be able to reduce their financing costs, which increase due to letters of guarantee fees, and will also be able to use their credit limits in other banks more effectively.”

Şimşek stated that priority will be given to exporters with high credit value and potential to increase value-added exports so that companies that export high-tech and value-added products can benefit more effectively from this application.

‘THERE WILL BE MORE SUPPORT FOR EXPORTERS’

On the other hand, Şimşek stated that early warning models and credit monitoring mechanisms supported by artificial intelligence have been established to closely monitor and effectively manage additional risks that may arise when diversifying the collateral structure, adding:

“Thus, Türk Eximbank implemented one of the best international practices. Within the scope of the strategic transformation program, Türk Eximbank will continue to support Turkish exporters by increasing the speed and quality of the service it provides with new products and applications in the coming period.” (AA)