23 August 2018 Thursday – 2:30 | Last updated: 23 08 2018 – 2:30
"Eximbank is ready for sudden shocks in foreign currency," said Ruhsar Pekcan, Minister of Commerce. "We will provide a total of $ 46 billion in financial support until the end of the year"
Trade Minister Ruhsar Pekcan stated that Türk Eximbank funded 25% of exports with the support of $ 39.3 billion provided by exporters in 2017. In the period January-July of this year, Türk Eximbank increased the financial support provided by the exporters by 9 percent compared to the previous year and increased it by 24.1 billion dollars, indicating that the amount of this loan was 14.5 billion dollar in cash loans and $ 9.6 billion in insurance support. Pekcan, "Eximbank Eximbank will provide $ 46 billion in financial support by the end of the year, and new applications and projects will always be next to the exporter," he said.
Target 11 thousand exporters
45 percent of all banking exports given within the system of loans in Turkey granted Pekcan conspicuously by Turk Eximbank, said: "Eximbank under our ministry's 100-day performance program to increase the number of customers and enable customers to make the total increase the share of SMEs we will carry out intensive studies 69 percent of the companies that benefit from Eximbank's financing support are SME's The bank's export portfolio increased by 16 percent in 2017. Since the beginning of the year 900 exporters have achieved more and the portfolio has increased to 9000 871. Our goal for the year is to reach 11,000 exporters. "
Prepared for shock
Mr. Ruhsar Pekcan said that the necessary tools were provided to disseminate the use of futures to protect exporters against exchange rate and interest rate risks of Turk Eximbank, in order to reduce the impact on the exporter of possible shocks and interest rate volatility in exchange rates. , and to support the competitive position. In this context, Pekcan said that currency purchases and forward currency products were offered and that interest rate swap transactions were launched from July 9, 2018. Pekcan added that exporters have been rapidly pending since July 23, 2018 to meet current claims through the daily limit for rediscount credits from to increase the CBRT.
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