Turkey: Eximbank to Loan Exporters $6.5 billion

Eximbank General Director Ahmet Kilicoglu in a written statement indicated that a new program, called the KOBI (Small- and Medium Size Business) Export Loan Preparation, which anticipated receiving a letter of guarantee at a rate of 50 per cent on total loans, had been put into practice. The program is part of an effort to find a solution for the guarantee and finance problems of KOBIs.

Stating that the term of these loans was one year, at which time repayment of capital would fall due, Kilicoglu said that the program’s maximum loan amount was set at $100,000, available in either Turkish lira or foreign exchange.

Cihan News Agency / Ankara / TURKEY