20 billion lira loan from the Central Bank to companies

CBRT announced that TL 20 billion of the facility allocated for Turkish lira rediscount credits will be made available as advance loan with investment commitment.

6.06.2020 09:45:000

Central Bank of the Republic of Turkey (CBRT), press for registered investment payday loan granted to the announcement was published in the bank’s official website.

In the announcement, the new type On March 31, coronavirus (Kovid-19) to limit the negative impact of the uncertainty created by the global epidemic Turkey’s economy in order, up to 60 billion pounds Turkish lira-denominated export and foreign exchange earning services rediscount loans anımsatıldı declared would disbursed.

In the announcement, which was stated that the loan requirement for working capital was effectively met by the banking system in the previous period, “Therefore, 20 billion lira of the opportunity allocated for Turkish lira rediscount credits is more efficiently committed to investment in order to support investments in selective sectors, which are critical for our country. 20 billion lira of the remaining 40 billion lira limit for Turkish lira rediscount credits will continue to be used by Turkish Eximbank, 10 billion lira by public banks, and 10 billion lira by other banks. ” expressions were used.

In the announcement, it was stated that with the advance loans with investment commitments, it is aimed to encourage investments with high efficiency, reduce imports and support exports, reduce foreign dependency and current account deficit problem and support sustainable growth, in line with the CBRT’s objectives of price stability and financial stability.

“Maximum 400 million lira loan can be used on company basis”

In the announcement, which was informed that the advance loan with investment commitment will be made available to companies that have Investment Incentive Certificate and will invest in selective sectors through development and investment banks, the following was recorded:

“Loans, the first stage will start to be disbursed through Turkey Investment and Development Bank, then it may be included in other development and investment banks in the application. Credits, the maximum maturity of 10 years and will be used as a fixed rate. For Loan interest rate the bank, the Turkish lira denominated as the rediscount loans As such, the CBRT will be 150 basis points below the one-week repo rate, which is the policy interest rate. The maximum loan amount that can be made available on a firm basis will be limited to 400 million lira, except for exceptional and special investment projects, thus enabling many companies to benefit from the opportunity.

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