Streamlined Financing for Exporters through Term-Free Export Credit Package

A groundbreaking stride awaits Türkiye's exporters as they are introduced to the Term-Free Export Credit Package, a collaborative effort uniting eleven esteemed banks. This innovative framework offers exporters the advantage of cost-efficient export credits, extending up to an impressive threshold of $5 million or 100 million TL. The loan tenure begins with a 12-month period, with the remarkable option for extension up to a maximum of 36 months available when companies choose to channel their export receivables to the contracted banks, thus optimizing their financial leverage.

At the forefront of this pioneering effort stand the respected Türkiye Export Assembly (TIM) and a consortium of esteemed financial institutions, including Ziraat Bankasi, Vakıfbank, Halkbank, İş Bankasi, Garanti BBVA, Akbank, Yapı Kredi Bankasi, QNB Finansbank, Denizbank, TEB, and Odeabank. Together, they orchestrate this dynamic credit package, underscoring the export sector's pivotal role in Türkiye's economic vitality.

Within the ambit of the "Term-Free Export Credit Package," exporters are poised to access a range of cost-effective export credit options, capped at an impressive $5 million or TL 100 million.

Notably, member companies of the Union stand to unlock extended loan maturities by directing their export turnovers towards the contracted banks, a strategic alignment that fuels mutual growth. Amidst a realm of diverse financial pathways, enterprises are empowered to chart their course by selecting between the revolving and installment credit alternatives. Under the banner of revolving credit, the credit tenure, commencing at 12 months, stretches its boundaries to a maximum of 36 months. This expansion materializes when enterprises judiciously redirect export receivables to endorsed banks, aligning with their sanctioned credit limits.

In tandem, this novel scheme seeks to cultivate an uninterrupted flow of resources, bolstering exporters' sustainability. For those favoring an installment credit approach, a compelling window awaits with a maximum maturity period of 24 months. In adherence to legal obligations, across all credit variants, export commitments culminate within a 24-month timeframe.

TIM CHAIRMAN ÇAKAR: EMPOWERING PROSPERITY AND FOSTERING GROWTH

In a momentous occasion marked by the signing ceremony of the Term-Free Export Credit Package between TIM and a consortium of 11 banks, Alpaslan Çakar, Chairman of the Banks Association of Türkiye (TBB) and CEO of Ziraat Bankasi, took the podium and shared his resounding sentiments:

"Today, we stand united with a profound awareness of investing in our nation's future through the protocol forged with the Türkiye Exporters Assembly (TIM). As the dynamics of the economy and trade evolve at a swift pace, our concerted effort, in collaboration with our member banks and the Türkiye Exporters Assembly (TIM), is to bolster our exporters with renewed financial support.

In a resounding collaboration involving the participation of eleven distinguished banks, a transformative credit package destined to aggregate to a remarkable 1 billion dollars is poised to invigorate our nation's economy. Esteemed exporters, the steadfast engines propelling our economic landscape, will witness their access to finance eased through this instrumental initiative."

TIM CHAIRMAN GÜLTEPE: A BILLION-DOLLAR INNOVATION UNVEILED

Stepping forward to deliver his thoughts, Mustafa Gültepe, Chairman of TIM, underscored the powerful collaborative efforts undertaken by 61 exporters' associations, 27 sectors, and a robust contingent of 115 thousand exporters of goods and services, harmonizing seamlessly with the prowess of 11 banks. This unison, Gültepe noted, is geared towards tackling the collective hurdle of unfettered access to finance. Bolstering the conversation with a forward-looking vision, Gültepe stressed:

"Looking forward to 2028, we have firmly established a resounding target of $600 billion, meticulously divided into $400 billion for goods exports and an additional $200 billion for services. A critical observation emerges as export figures surge – the demand for financing scales proportionately. Indeed, the bedrock of monumental achievements lies in the realm of financing. Steadfast and unwavering, our banks have perennially championed the cause of exports. In the face of global challenges including soaring inflation and financial bottlenecks, we shall march forward in unison with our banking partners. Aligned in purpose, banks and exporters share an intertwined destiny: nurturing Türkiye's prosperity and amplifying its economic tapestry. United by this shared vision, we have joined hands in harmonious cooperation. This collective effort has borne fruit in the shape of an innovative creation, a new product that carries the weight of a remarkable 1 billion dollars. Today's unveiling of the Term-Free Export Credit Package marks a pivotal juncture for our exporters. In this moment, I extend my heartfelt appreciation to our banks, who stand as the towering pillars bolstering investments and exports within our nation."

BANK EXECUTIVES PARTICIPATING IN THE PRESS CONFERENCE:

•            CEO of Ziraat Bankasi Alpaslan Cakar

•            CEO of Vakıfbank Abdi Serdar Üstünsalih

•            CEO of Halkbank Osman Arslan

•            CEO of İş Bankasi Hakan Aran

•            Vice-CEO of Garanti BBVA Cemal Onaran

•            Vice-CEO of AkbankBülent Oğuz

•            Vice-CEO of Yapı Kredi Bankası Cahit Erdoğan

•            Vice-CEO of QNB Finansbank Engin Turhan

•            Vice-CEO of Denizbank Mehmet Aydoğdu

•            Vice-CEO of TEB Ömer Yenidoğan

•            Vice-CEO of Odeabank Cenk Demiröz