$2.3 billion financing obtained for SMEs, says Şimşek

ISTANBUL

Some $2.3 billion in external financing have been secured to be  extended to small- and medium-sized enterprises (SME) this year through Eximbank and development banks, Finance Minister Mehmet Şimşek has said.

Through Eximbank, about $1 billion was provided for exporters' green export projects, green infrastructure support projects and working capital needs, Şimşek told state-run Anadolu Agency.

Another $1.3 billion of financing was made available through development banks to support SMEs, according to the minister.

Efforts are continuing both to eliminate the problems experienced after the 2023 earthquakes and to support businesses outside the earthquake zone, Şimşek said.

“In this framework, we provide long-term loans at favorable conditions to our businesses in close cooperation with international organizations.”

These loans enable enterprises to realize their investment projects and support the acceleration of projects that prioritize sustainability within the scope of green transformation, he added.

Those funds will be used to contribute to the food security projects of SMEs in the earthquake zone and to rebuild their economic activities, according to Şimşek.

“It is also aimed to support the financing of international trade of enterprises, support emission reduction investments across the country, support the financing of electricity generation investments and energy storage systems projects to meet the domestic consumption needs of the private sector,” he said.