Automotive Exports May 2019

Eximbank to provide TL loans for non-SME
firms to boost exports
Türk Eximbank, which provides
loans in local currency to small
and medium-sized enterprises
(SMEs) exporting in Turkish lira,
will from now on grant loans to non-
SME companies as well.
In a statement, Trade Minister Ruhsar
Pekcan said significant efforts have
been made in recent years to improve
trade in local currencies.
She pointed out that the share of the
Turkish lira in exports rose from 4.5
percent in the first two months of 2018
to 4.8 percent in the first two months of
this year.
Pekcan said Türk Eximbank has
continued to provide TL loans to
exporting SMEs with affirmative
interest rates compared to market
figures.
She added that the bank channeled
Turkish lira sources to SMEs in August
2017 and provided additional credit
support of about TL 10 billion to SMEs,
including TL 2.1 billion in 2017 and
TL 7.7 billion in 2018, adding the said
support will continue to increase in
2019.
The trade minister said that Türk
Eximbank’s loan facility in Turkish
lira was planned to be diversified and
increased by taking into consideration
the importance and growing potential of
trade in local currency in the upcoming
period.
On providing loans in the local currency
to non-SME companies, Pekcan said:
“For this purpose, the current Turkish
lira loan program for SMEs exporting in
the local currency will continue.”
She said for non-SME companies, on
the other hand, a previously announced
loan program will be put into operation
as of April 22, 2019.
The loan will have a one-year maturity
period and a six-month interest rate
payment based on the Central Bank of
the Republic of Turkey’s (CBRT) daily
weighted average funding rate.
“We believe this opportunity will
contribute to the development of trade
in local currencies,” said Pekcan.
May 2019
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