Turkey’s Eximbank continues to support Turkish exporters

Eximbank of Turkey which was established in 1987 to support foreign trade companies of Turkey continues to provide maximum contribution to exports of this country. In fact, Ms. RUHSAR PEKCAN, the Minister of Commerce has stated that Turk Eximbank has already exceeded its 2018 target to support 11 thousand exporters and is very likely to achieve its goal of providing US$ 44 billion financial support by the end of the year.

The Minister also noted in a written statement that a number of approximately 11 thousand exporters had benefitted from cash loans or insurance support as of December 19, 2018.

She said the bank had reached 70.4 percent of SMEs which corresponded to an increase of 16 percent in number of reached exporters.

PEKCAN stated that at the end of 2018, the target of US$ 44 billion would be reached by the end of the year corresponding to an increase of 13 percent as compared to previous year. She added that US$ 27billion of this amount would be in cash loans while US$ 17 billion would be insurance facilities.

The Minister pointed out that the bank had obtained a cost-effective fund of US $ 3.7 billion from abroad to be able to increase its cash lending capacity to exporters and it worked hard to transfer these funds to exporters in favorable conditions.