State Minister Kursad Tuzmen has announced that Eximbank has cut its short-term lira export loan rates by two per cent and its forex export loan rates by 0.25 per cent.
Tuzmen said in a written statement on Friday that this enabled Turkish exporters to benefit from lira loans with annual 12-22 per cent interest and forex loans with annual 1.4-3.9 per cent interests thanks to the rate cut.
Tuzmen also announced that Eximbank provided US$630m in loans to Turkish exporters between 1 January and 18 March.
Eximbank’s loans rose by 30 per cent in this period compared to the same period of last year, he added.
Turk Eximbank is a fully state-owned bank acting as the Turkish government's major export incentive instrument in Turkey's export strategy. As Turkey's official export credit agency, Eximbank's mission is to support foreign trade and Turkish contractors operating overseas.
Source: Turkish Daily News
