Turkish lenders set to raise agriculture loans

ANKARA - Anatolia News Agency

Turkey is the sixth largest agricultural economy in the world according to data from the World Bank, according to Yüksel Cesur, Ziraat Bank Agricultural Marketing Group Manager, speaking at the 12th National Agriculture and Food Congress.

“Turkey has no problems with regard to agricultural production volume or capacity,” Cesur said, adding that the bank’s increasing financial support for agriculture would help the sector continue thriving.
Banks, which have traditionally stayed away from the agriculture sector due to low profits and high risks, are now increasingly supporting the sector and providing credit, the managers of many leading banks said at the event.

However, the smallness of enterprises, lack of knowledge, insufficiency of equity capital and negative credit history are all factors hampering the agriculture sector in its search for financial support, said Agricultural Marketing Group Manager of Şekerbank, İbrahim Turgutalp. He did add, however, that Şekerbank does provide necessity-specific credit opportunities for the sector.