Turkey

The latest Fitch ratings, released today, have affirmed Garanti Factoring long-term foreign currency Issuer Default Rating at 'BB'

The effects of the global crisis in Turkey are boosting usury, a financing method to make excessive profit by providing money to those in need.

The World Bank has approved a US$200m loan for Turkey's 'Access to Finance for SMEs' project

Turkey will offer a total of TRY 350m liras (EUR175m) in interest-free lending to small businesses

Turkey will provide SMEs with a 168 million euro support loan package.

International Factoring Group (IFG) has announced that Turkey s C Faktoring has become a shareholder status member of the factoring industry association

Turkey's factoring industry, which has been active in the country for only 20 years, attained a growth rate far above the world average of 27 % in 2007.

The Islamic Development Bank (IDB) has reached a deal with the Turkish Development Bank to provide loans for SMEs.

Export manufacturers will soon be able to take advantage of a new package of state-supported, interest-free loans similar to those currently being offered to industrial SMEs

The business world has welcomed Minister of Industry and Trade Zafer Çaglayan's announcement of a plan to grant interest-free loans of up to TRY 25,000 (EUR13k) to SMEs.