Business

$50 million credit opportunity for agriculture and food production sectors from TKYB

The credit, provided by the Treasury and Ministry of Finance and the Turkey Development and Investment Bank (TKYB), in collaboration with the OPEC Fund for International Development (OPEC Fund), is aimed at financing the investment and operating capital needs of businesses operating in the agriculture and food production sectors in Turkey, with priority given to enterprises in 11 provinces affected by the earthquake on February 6, 2023.

According to a statement from TKYB, the credit, provided by the OPEC Fund, an international development bank based in Vienna, Austria, aims to provide financing to enterprises operating in the agriculture and food production sectors across Turkey.

The credit is being utilized for the financing of investment and operating capital needs of enterprises operating in the agriculture and food production sectors in Turkey, prioritizing those affected by the earthquake in 11 provinces on February 6, 2023.

In his remarks evaluating the collaboration, TKYB General Manager İbrahim Öztop stated, “This agreement signed with the OPEC Fund is of great importance both for our Bank and for Turkey as a first in years, further solidifying our mission to support sustainable development in Turkey’s agriculture and food production sectors. We see this meaningful collaboration with the OPEC Fund not only as financial support but also as a valuable step towards increasing our country’s agricultural capacity and food production. In this regard, we aim to contribute to the rapid recovery of businesses operating in the earthquake-affected regions.”

OPEC Fund President Dr. Abdulhamid Alkhalifa expressed their happiness in contributing to Turkey’s sustainable development goals.

Alkhalifa highlighted the significant contributions of the agriculture and food sectors to economic activity, employment, and trade in Turkey, stating, “We believe that this financing provided through TKYB will contribute to the long-term sustainability of the sector and support the needs of businesses in earthquake-affected areas to recover and stand on their feet. We are ready to further enhance our collaboration with Turkey and support its sustainable development goals.”

Kerem Dönmez, Director General of External Economic Relations at the Treasury and Ministry of Finance, stated:

“We continue our efforts to secure favorable conditional external financing for many sectors, including food security, from international organizations, governments, export credit agencies, and commercial creditors. With this financing, we have realized our first collaboration with the OPEC Fund. Through this agreement signed between the OPEC Fund and our Ministry on March 21, we will provide investment and operating capital financing for food security projects of enterprises operating in Turkey, primarily in earthquake-affected areas.”

source: aa.com.tr/ prepared by Melisa Beğiç

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button