US$7.5bn subsidiary for exporters


State Minister Kursad Tuzmen announced that exporters will be subsidized in 2005 with a US$7.5bn fund from Eximbank.

Tuzmen pointed out yesterday that short-term export credits granted by Turkish Eximbank between January 1st and October 31st 2004 exceeded US$2.8bn. 40 per cent (US$1.1bn) of the credits were used by small- and medium-sized enterprises (SMEs). Insured delivery expenses for the same period were US$2.8bn within the scope of a short-term export credit insurance programme.



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Posted on Nov 15, 2004
Region: Turkey