Turkey’s credit fund has backed $60 billion worth of loans: Minister
ANKARA
Turkey’s Credit Guarantee Fund (KGF) has backed loans worth 219 billion Turkish Lira ($60.18 billion) so far, Finance Minister Naci Ağbal said on Oct. 16.
The size of the Credit Guarantee Fund, a government stimulus that guarantees loans to small and medium-sized enterprises that cannot otherwise receive credit, was increased by more than ten-fold to 250 billion liras in March.
