02.12.2016 Ankara
The signatures for the Respite Credit for SMEs, which will be brought into effect through the partnership of TOBB, Ziraat Bank, Denizbank and Credit Guarantee Fund (KGF), were put on paper at the launch meeting held at the Prime Ministry Çankaya Mansion.
Attending the meeting
were Prime Minister Binali Yıldırım, Customs and Trade Minister Bülent
Tüfenkci, Prime Ministry Undersecretary Fuat Oktay, TOBB President M. Rifat
Hisarcıklıoğlu, Ziraat Bank General Manager Hüseyin Aydın, Denizbank General
Manager Hakan Ateş and KGF Chairman Faik Yavuz.
TOBB President M.
Rifat Hisarcıklıoğlu stated that they, TOBB, Ziraat Bank, Denizbank and KGF, have
come together for a revolutionary endeavor, saying, “We’ve prepared a project together
with the real sector and the financial sector and that will provide respite to
SMEs. By doing this we, the private sector, have contributed to the policy initiated
by the President and Prime Minister to lower credit interest rates.”
Stating that they’ve
been talking about this project with Prime Minister Binali Yıldırım and Customs
and Trade Minister Bülent Tüfenkci two months ago, Hisarcıklıoğlu said, “We
said, ‘SMEs are using loans with interest rates between 15% and 18%, they can have
no respite with these levels of interest rates. We must enable the SMEs to
utilize interest rates below 10%.’ We started work immediately.
First, TOBB, with our
365 chambers and commodity exchanges, combined all of our resources. Then our Treasury
and Credit Guarantee Fund came into operation. The SMEs could not find any
collateral and the banks could not give them credit because they saw risks.
With the instructions of the Prime Minister, the Treasury-backed KGF bail went
into effect. Our SMEs were granted 85% bail on loans under this project.
Finally, our banks
have entered the arena. They have also provided resources for the project by
taking risk. I would like to thank the General Manager of Ziraat Bank Hüseyin Aydın
and Denizbank General Manager Hakan Ateş for their leadership.
From this endeavor
emerged 5 billion TRY for SMEs as Respite Credit. With Respite Credit we will
provide SMEs with credit loans with interest rates of 9.90% per annum and 0.83%
monthly with a maturity of 1 year. We are aiming to serve about 80 thousand
SMEs within 3 months. We will not allow SMEs to be crushed under interest, we
will be the respite SMEs need.”
Hisarcıklıoğlu said
that with this project, the real sector and the finance sector will work
together to show how well they can do business for Turkey.
Stating that the
project has been closely followed by Prime Minister Yıldırım since its first
day the TOBB President said, “Today he has taken this signature ceremony under
his patronage to boost morale. We are very happy to have supported the policy
of reducing the interest rates of loans initiated by our President and Prime
Minister as the Turkish private sector.”
Hisarcıklıoğlu said
that this project is a hope for the whole business community in these anxious
days for the market, “Because we know very well that those who invest in Turkey
have always won. Turkey has always reached its target. We will do what we know
best again. We will work harder; we will produce more; we will prosper; our
employees will prosper; Turkey will prosper. As long as the unity you see here
today lasts, we will have many successes.”
- Prime Minister Yıldırım
Prime Minister Binali
Yıldırım reported that he will convene the Economic Coordination Board today. After
making the final case assessments and the decisions which need to be taken would
be shared with the public. Yıldırım explained that they have allocated about 80
billion TRY in resources for public investments, pointing out that necessary
measures will be taken. Yıldırım said, “Actually we have another interesting
endeavor in the works which we will announce in the coming days. It is an
initiative that will relieve our tradesmen, our employers and our commercial
life considerably.”
Customs and Trade
Minister Bülent Tüfenkci pointed out that despite economic rumors, the economy
continues to maintain its robust stance and said, “With the stability we’ve
achieved, we will produce more and sell more together. With a focus on exports,
we will achieve growth via the real sector.”
Denizbank General
Manager Hakan Ateş and Ziraat Bank General Manager Hüseyin Aydin expressed
pride in being a part of this initiative, extending their well wishes for all
the country and nation to benefit from it.
The protocol for the
Respite Credit for SMEs were signed by TOBB President Hisarcıklıoğlu, KGF
Chairman Faik Yavuz, Ziraat Bank General Manager Aydın and General Manager of
Denizbank. With Prime Minister Yıldırım signing the protocol as witness.