12/7/2016
Undersecreteriat of Treasury Signed a Protocol with Credit Guarantee Fund
Vice Prime Minister Mehmet Şimşek: "This is an important protocol that will make it easier to use resources over credit guarantee fund and significantly reduce bureaucracy. With SMEs at the focal point, within this framework we are making access of the companies other than SMEs to funds possible making the use of funds more flexible
Banking sector will facilitate crediting by themselves. We are increasing treasury warrantee. We are providing up to 85 percent warrantee to SMEs. It is 100 percent for the exporters. Our resources at this point allows for a credit volume of up to 20 billion Lira."
Undersecreteriat of Treasury signed a protocol for “Treasury Support Provided to Credit Guarantee Organisations” with the Credit Guarantee Fund enhancing the scope of the Treasury credit guarantee system and improving the ease of access to credit for the SMEs and importers. Vice Prime Minister Mehmet Şimşek, during his speech at the protocol signing ceremony, stating that the aim of the protocol was to provide improved support to the real economy, commented that “This is an important protocol that will improve the Credit Guarantee Fund but more importantly, will make it easier to use resources over credit guarantee fund and significantly reduce bureaucracy." "Our resources at this point allows for a credit volume of up to 20 billion Lira" Şimşek added that “With SMEs at the focal point, within this framework we are making access of the companies other than SMEs to funds possible making the use of funds more flexible. This is the first point. Credit Guarantee Fund will be more of a coordinator in this. Banks will decide on credits based on their own assessments, with the rating system. Here, a maximum limit will be assigned to each bank. For each bank, we limit the credit ratio that they will assign, that is they will pursue with 7 percent. We are increasing treasury warrantee. We are providing up to 85 percent warrantee to SMEs. It is 100 percent for the exporters. Larger companies other than SMEs will have a 75 percent warrantee. As I have said, limits and standards will be determined. Banking sector essentially will facilitate crediting by themselves. Our resources at this point allows for a credit volume of up to 20 billion Lira. However, it is my belief that in the near future we will be able to increase this many times over with the resoruces coming from the additional budget.” Mehmet Şimşek, after the signing of the protocol, said that “We are with the real economy through these difficult times. Treasury will be strongly supporting the companies who produce, provide jobs, export. Our banking sector is sound. It is our hope that we will be producing more, providing more jobs and exporting more together.”
Annual Report
