Turkey

Fitch Ratings has today affirmed Ekspo Faktoring A.S.'s National Long-term rating at 'BBB+(tur)' with a Stable Outlook

Fitch Ratings has today affirmed Turkey-based Optima Faktoring Hizmetleri A.S.'s (Optima) National Long-term rating

The signatures of two loan agreements to support SMEs worth EUR 550 million yesterday mark a milestone for the EIB's lending activity in Turkey

Turkish Prime Minister Recep Tayyip Erdogan said a credit guarantee system would be launched for SMEs in Turkey.

The Treasury must leave the financial markets as the biggest borrower so that banks will extend more resources toward financing the non-financial sector.

Garanti Factoring succeeded in increasing its first quarter earnings by 39%, with net profits reaching 2.5 million TL for 2009.

The EBRD is considering providing EUR 20 million senior loans to each of Deniz Bank (DB) and Garanti Bank (GB) to on-lend to Micro, Small and Medium Enterprises (MSMEs) in Turkey.

Finance Ministry investigating factoring services that have made unfair profits by taking advantage of the ongoing global financial crisis.

European Union's Small Business Credit Programme extends 20 million euros to Garanti Bank.

Turkish business leaders have highlighted limited access to funding as being a key concern for Turkish businesses in the downturn.