Business body asks for easy project loans

ISTANBUL - Anatolia News Agency

MÜSİAD Chairman Nail Olpak says the Central Bank should act faster. AA photo

The banking structure in Turkey is not permitting loans to be granted for projects, Independent Industrialists and Businessmen’s Association (MÜSİAD) chairman Nail Olpak has said.

“We’re grateful for deliberate acts of the Central Bank, but we think it’s better if the bank moves faster and is more sensitive about interest rates’ impacts on companies and the country’s economy in general. Even small amounts like 0.25, 0.5 or one point have severe impacts on the economy,” he told Anatolia news agency.

Anticipating 4 percent growth in 2013, the chairman said 2012 was a good year for Turkey compared to the rest of the world, though he added that he regretted that the domestic market cool down was over-dosed.

Olpak praised Turkey for managing the existing risks. “Turkey will be able to succeed in finding a path for itself even if the economy of nearby countries and the world goes on as bad as it is now.”