|  
  |  
  |  
  |  
  |  
  |  
  |  
  |  
16 April 2014, Wednesday
 
 
Today's Zaman
 
 
 
 

Eximbank to provide loans for overseas operations of firms

ECONOMY MINISTER ZAFER ÇAĞLAYAN (PHOTO: AA)
17 May 2012, Thursday /BUĞRA KARDAN
Turkey’s state-owned credit agency Eximbank will begin offering loans to Turkish firms that plan to expand their overseas operations by purchase of a foreign company or through acquisition, according to Economy Minister Zafer Çağlayan on Thursday.

At an automotive sector meeting in İstanbul, he announced that with the new type of loans, the state will distribute loans under two categories. One option will be no payment for two years with seven years of monthly installment payments, while the second option will be no payment for three years followed by 10 years of installment payments.

Noting that the interest rate on loans will be under market rates, Çağlayan said, “The general manager of the bank is authorized to approve up to $10 million in loans, but loan applications for more than $10 million will need to be authorized by the board of directors,” and added: “The ministry is trying its best to serve the needs of our businessmen by distributing incentives or low-rate state loans. We suggest businessmen buy firms that specialize in feasibility research as well as distribution networks and services. We are ready to grant $200,000 to our industrialists to conduct feasibility studies.” Türk Eximbank, established in the 1980s, is a fully state-owned bank acting as the Turkish government’s major export incentive instrument in Turkey’s sustainable export strategy.

 
 
BUSINESS  Other Titles
Turkish schools help to enhance trade relations with Africa
Unemployment rate sees decrease year-on-year in Jan
Pegasus Airlines to start flights to Bahrain
Installment payments down 16 pct since credit card regulation implemented
Euro zone's trade surplus widens on rising exports in February
Doğan Holding merges with publishing group
Turkey's Koç: We will concentrate our energy on investments
EU lawmakers complete financial system overhaul
Egypt limits air conditioning in mosques as power shortages worsen
TL 1.5 billion budget deficit seen in Q1
Cacharel to bring womenswear to Turkey with 2015 season
Business organization begs for refocus on economy
Purge in bureaucracy may unsettle markets, economist warns
Industrial turnover index falls 0.2 pct in February
Foreign debt increase breaks national record
Agricultural producer price inflation reaches double digits
Export expectation index rises by 18 points for Q2
Bank loans decelerate amidst restrictive measures
ECB Report: Turkey's economic vulnerabilities may harm eurozone
Calls to boycott Hizmet institutions denting market confidence
...
Bloggers