Eximbank cuts export loan rates

Tuzmen said in a written statement on Friday that they enabled the Turkish exporters to benefit from lira loans with annual 12-22 percent interest and forex loans with annual 1.4-3.9 percent interests thanks to the rate cut.

Tuzmen also announced that Eximbank provided $630 million in loans to Turkish exporters between January 1 and March 18.

Eximbanks loans rose by 30 percent in this period when compared to the same period of last year, he added.

Turk Eximbank is a fully state-owned bank acting as the Turkish government’s major export incentive instrument in Turkey’s export strategy. As Turkey’s official export credit agency, Eximbank’s mission is to support foreign trade and Turkish contractors operating overseas.