Turkish Eximbank statement from Minister of Trade Bolat: Access to finance will be easier in the new period

Minister of Commerce Ömer Bolat stated that studies are being carried out to ensure that Türk Eximbank has a more integrated and diversified structure that will facilitate exporters' access to financing in the new period. Bolat said that they aim to create a new business model supported by digitalization and data-based processes within the scope of the Bank's strategic transformation.

While Turk Eximbank supports exporters' access to finance with credit and insurance mechanisms, it also provides buyer loans in order to increase the competitiveness of Turkish goods and services in international markets.

Within the scope of the Medium Term Program, it is aimed to increase the effectiveness of the Bank's export financing instruments, prioritize activities for new markets and develop its corporate infrastructure taking into account international best practices.

USE OF EXPORT CREDIT INSURANCE WILL BE EXPANDED

Bolat stated that they aim to offer exporters more flexible and structured financing solutions in line with the developments in international markets.

Stating that Türk Eximbank plans to develop financing and insurance tools by taking into account the collection risks faced by exporters in new markets and the advantages of foreign competitors in their own countries, Bolat said that they are also working to expand the use of export receivable insurance.

This tool aims to support Turkish companies' ability to make forward sales.

FINANCIAL SUPPORT FOR HIGH TECHNOLOGY EXPORT IS INCREASING

Bolat stated that the aim is to expand the scope of the Reference Commercial Interest Rates Support provided by the Ministry so that more companies can benefit from this opportunity in the export of investment goods and projects.

Stating that efforts are continuing to develop new collaborations with export credit agencies, international financial institutions and development banks of other countries, Bolat noted that the aim is to increase the share of investment loans in the total portfolio.

In this context, it is planned to support exporters' green transformation and capacity increase investments on a stronger financial basis.

Bolat stated that long-term resources provided from international development and financial institutions are used to support women entrepreneurs and SMEs in the fields of high technology, resource efficiency, renewable energy, low-carbon production and digitalization.

Stating that the share of loans received by high and medium-high technology exporting companies continues to be increased with the Exporter Performance Potential Evaluation Model, Bolat said, "With the Bank's activities, it continues to be one of the driving forces of the qualitative transformation of our exports by providing support to 58 percent of our country's medium-high technology exports and 59 percent of high technology exports." he said.