Treasury and Finance Minister Mehmet Simsek announced that they will put into effect a total of TL 25 billion of guarantee limited support package, TL 17.5 billion of which will be allocated for business and TL 7.5 billion for investment expenses through Credit Guarantee Fund (KGF).
The treasury and Finance Ministry will provide affordable and accessible financing opportunities to increase the contribution of manufacturing SMEs to sustainable growth and strengthen their competitive power.
The package was announced following a statement by President Recep Tayyip Erdogan attaching importance to the KGF to support businesses. Erdogan recently attended the informal summit of the Organisation of Turkic States (OTS) in Hungary.
"It would be beneficial to take the step at this point and pour water into the pump from KGF so that it can get moving. God willing, we will take a different step in the new period. I have also made the necessary instructions to our relevant friends regarding this issue. We are currently in the process of preparing for this," the president was quoted as saying by a news agency.
ALCHEMPro News Desk (DS)
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