Turkey increases loan for SMEs to $1.9B

Turkey fastest growing economy globally, says prime minister

Turkey increases loan for SMEs to $1.9B

World Bulletin / News Desk

The volume of a loan which caters to small and medium-sized enterprises (SMEs) in Turkey has been raised, Prime Minister Binali Yildirim said Saturday.

The breather loan has been increased to 7.5 billion liras ($1.9 billion) from 5 billion liras ($1.25 billion), Yildirim said, at the loan signing ceremony in the Aegean Izmir province.

He added that the initiative will benefit SMEs greatly.

The breather loan package, in collaboration with the Credit Guarantee Fund, Turkish Union of Chambers and Commodity Exchanges, lenders Ziraat Bank, Akbank, Vakifbank and Denizbank, was introduced in late 2016 to revive the economy. The loan started being utilized by SME's last year.

Yildirim said Turkey became the fastest-growing country in the world with an economic growth rate of 7.4 percent, last year.

"We are breaking our own record [of economic growth rate]. Turkey will continue to grow, develop and produce, with its private and public sectors and practicable policies by taking firm steps," Yildirim said.

He said economic incentives and measures will be disclosed to the public next week.

Last Mod: 31 Mart 2018, 15:14
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