27.04.2020 Ankara
The Union of Chambers and Commodity Exchanges of Turkey (TOBB) President M. Rifat Hisarcıklıoğlu participated in the Credit Guarantee Fund (KGF) Information Seminar (Webinar) conducted via video conference. KGF Chairman Faik Yavuz and KGF General Manager Kasım Akdeniz also took part in the online seminar and provided information.
TOBB President M. Rifat Hisarcıklıoğlu
stated that, due to the new type of coronavirus (Covid-19) outbreak, the Credit
Guarantee Fund (KGF) limit has been increased to 500 billion TRY, “So far
120,000 companies have been allocated 108 billion TRY of funding. 96% of them
are SMEs. The job that came to KGF is at the bank's disposal the next morning.
There is no waiting time.”
Hisarcıklıoğlu, speaking at the opening of
the seminar, said that their task in the process of the pandemic is to
strengthen the spirit of solidarity and fight all together.
Hisarcıklıoğlu explained that they
conveyed the problems from the chambers and exchanges in the provinces to the relevant
authorities, “Our goal is to keep our production and trade capacity alive, to
keep our companies and entrepreneurs alive. So when this process is behind us,
it's about getting back on your feet and continuing to work. One of the topics
we're addressing is access to funding. Our work on TOBB Breath Credit was
essentially over at the beginning of the month, but our banks could not start
this due to the workloads which have increased considerably due to other loan
packages. We finally implemented it this morning.”
Stating that TOBB, chambers and exchanges have
allocated all resources for the use of companies, Hisarcıklıoğlu said:
“This time it will be the lowest interest
rate on The Breath Loan, 7.5 percent annually. In addition, this year,
companies will not pay any principals or interest. In this process, KGF became
very important. In the last 13 years, this is the 7th iteration of
this loan. Whenever our members are in difficulty, TOBB transfers all its
resources to our members. The government has increased its 250 billion liras bail
support increased to 500 billion liras. So far, 120,000 companies have been
allocated 108 billion liras of financing. 96% of them are SMEs. Of course, all
the numbers also mean a big workload.
I’ve personally witnessed their hard work
day and night. No one finishes working at night until it's over. The job that
came to KGF is at the bank's disposal the next morning. There's no waiting
time. I would like to take this opportunity to thank all KGF employees for
their efforts.”
- “We have increased our credit capacity to 500 billion liras”
KGF General Manager Akdeniz, stating that
they are working very hard throughout the Covid-19 process, said that the
outbreak has created results that the world has not encountered so far.
Stressing that the most important goal is
navigating this process without damaging the real sector production and
employment capacity in Turkey, Akdeniz said, “This means ensuring cash flow.
With KGF bail, it is important to try to survive this period without any
problems in cash flow, especially through loans provided by our public banks
and the entire banking sector. The second goal was to get through this period
without damaging employment capacity. All our Treasury management, all banking
sector, chambers, especially Treasury and Finance Minister Berat Albayrak,
worked intensively.”
Akdeniz noting that in the process to
minimize economic damage, they have created numerous support packages, as the
KGF, they can provide bails and create packages through the guarantees provided
by the Treasury and the Ministry of Finance.