Other articles
24 May 2019, Gergana Bencheva, EMIS Editor

Three Turkish banks agree to provide TRY 30bn to industry, agriculture

Three Turkish state-run banks have agreed to provide up to TRY 30 billion loans to finance groups in the sectors of industry and agriculture, CEEMarketWatch reported referring to a statement made by the country’s finance minister Berat Albayrak. The banks in question are Ziraat, Halkbank and Vakifbank.

The loan package will be extended till the end of 2019 and will finance firms that manufacture selected medium-high and high technology products of crude materials and intermediate goods, and machinery. That annual imports of the products to be supported by the funding are around USD 28 billion.

The loan package is designed to help Turkey reduce its import dependency. The maturity and interest structure of the loans will vary according to each beneficiary, CEEMarketWatch reported.

Sign in and read the full article in emis.com, and find out more about EMIS. Original source: CEEMarketWatch