Türkiye unveils 250 billion lira financing package for manufacturers
Türkiye will make 250 billion Turkish Liras ($5.18 billion) in financing available to manufacturers under a new employment-linked support program, Industry and Technology Minister Mehmet Fatih Kacır said on Aug. 28.
Applications will open on Sept. 1, Kacır said at the program’s launch at the Istanbul Financial Center.
The package will be available to small and medium-sized enterprises (SMEs) and large companies across all manufacturing sectors. Businesses may obtain loans with a grace period of up to six months and maturities of up to 36 months.
Fixed-rate loans will initially carry an annual financing cost of 37 percent, while variable-rate loans will be priced at the Turkish lira overnight reference rate, known as TLREF, plus one percentage point.
