Strategic financing pack reaches 11,500 firms

Strategic financing pack reaches 11,500 firms

ISTANBUL-Anadolu Agency
Strategic financing pack reaches 11,500 firms

A financing package in Turkey for strategic sectors has reached 11,500 companies so far, Turkish state lenders announced in a joint press release on Aug 5.

Within the scope of the financing package, a 5.2 billion Turkish liras ($936.5 million) credit limit was allocated to 11,500 companies, said in the press release.

Three banks -- Ziraat, Vakıf, Halk -- also issued 1.7 billion Turkish liras ($306.1 million) of loans for the companies, the statement read.

Turkey announced last May a 30-billion Turkish lira (some $5.4 billion) financing package, dubbed "İVME", for sectors with export potential but afflicted by the foreign trade deficit and high import dependency.

Public banks provide $307 mln in loans to some 12,000 firms
Public banks provide $307 mln in loans to some 12,000 firms

Over half of the credit limit was allocated to the machinery and devices sector, followed by the chemical-plastic and agriculture-animal feed sectors.

Finance and Treasury Minister Berat Albayrak said on Twitter that the package proceeded successfully towards its target of quality and sustainable growth.

Turkey, finance, credit limit, İVME