Minister of Treasury and Finance Mehmet Şimşek stated that he gave instructions to increase the capital of Türk Eximbank for the third time since July last year in order to support exports.
Şimşek evaluated the steps taken to strengthen Türk Eximbank’s capital structure and increase financing opportunities for exporters.
Stating that he attaches great importance to export-oriented policies, Şimşek reminded that in this context, the daily rediscount credit limit from the Central Bank of the Republic of Turkey (CBRT) was increased by 10 times to 3 billion liras. Şimşek said that the increase in rediscount limits will continue according to need.
Şimşek informed that they have taken a new decision regarding the capital of Türk Eximbank within the scope of their policies to facilitate exporters’ access to finance and increase export supports, and said, “We also consulted with our Minister of Commerce, Ömer Bolat. Türk Eximbank, which is a breath of fresh air for our exporters, has been awarded its third capital in the last 7 months.” “We have initiated the work to increase the capital for the first time, and we will finalize it as soon as possible,” he said.
“WORKS TO DRIVE DOWN CREDIT COSTS WILL BE ACCELERATED”
Şimşek stated that they attach importance to providing loans with different types of collateral in addition to letters of guarantee in order to solve the problem of exporters accessing finance and made the following evaluation:
“Following the capital increases, the Bank’s efforts to reduce loan costs by providing collateral facilities to exporters will accelerate further. This work will enable companies with high credibility and export value to provide loans without letters of guarantee and with other collaterals accepted in the banking sector.”
Stating that the ultimate goal of the economic program is “qualified investment and employment”, Şimşek said that they will continue to support this field in line with the main priority of exports.