Turk Eximbank aims to provide $50 bln financing for exporters
ANKARA- Anadolu Agency
Speaking at Turk Eximbank 2020 Operating Results and 2021 Targets Meeting, Ruhsar Pekcan said the bank's export support rate is projected to rise to 27.7% this year.
Noting that Turk Eximbank plays a crucial role in transforming the country's production power into exports, Pekcan said the bank has the ninth-largest asset size in the sector.
Pekcan stressed that Turk Eximbank made 53.9% of its total export loan available while being the largest insurance firm in the country.
Turk Eximbank provided financing – both loans and insurance – worth $45.6 billion in 2020, up 3.6% from the previous year, she said.
"For exporters, Turk Eximbank extended $28.5 billion of cash loan and $17.1 billion of credit insurance last year with a rise of 7% from 2019," Pekcan noted.
The rate of export support increased from 24.3% to 26.9% last year, she said.
The number of exporters also climbed 4% from the previous year to 13,102 in 2020, most of which are small- and medium-sized enterprises (SMEs).
Currently having 20 branches and 11 liaison offices, Turk Eximbank is opening five new branches this year, she underlined.