Türkiye's export credit agency is expanding the scope of its buyer credit program, adding foreign trade instruments and discounting products while increasing its country and banking network, as the government steps up efforts to support exporters with more competitive financing options.
The expansion was announced by Trade Minister Ömer Bolat, who said under the buyer credit program, "we will support the difference between the interest rate applied by Türk Eximbank and the OECD's Commercial Interest Reference Rate (CIRR)."
The new framework expands coverage to include foreign trade instruments such as letter-of-credit discounting, while also extending support to investment goods exported under overseas contracting projects, Bolat said.
"With the new model, financing cost support w
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