Turk Eximbank’s support to exporters reaches over $30 bln in 2018, says bank chief

ISTANBUL

Turk Eximbank provided more than $30 billion worth of support to exporters in the first nine months of 2018, according to the bank’s head.

Speaking to state-run Anadolu Agency’s Finance Desk on Oct. 18, the bank’s chief, Adnan Yıldırım, said the total amount of export support is expected to reach $43-44 billion by the year’s end.

The bank’s target was to support Turkey’s exports with $46 billion this year, up 17 percent from 2017.

“We were working with 7,700 exporters before 2017. This number will reach 10,600 by Nov. 8,” Yıldırım added.

Since its foundation in 1987, Turk Eximbank has been conducting export credit, buyer credit, credit insurance and guarantee programs aimed at developing economic and political relations between Turkey and other countries.