Minister of Treasury and Finance Mehmet Simsek stated that they will provide strong support to the production of high-tech products that have an important share in foreign trade with the Investment Committed Advance Loan Program and said, “We aim to reduce the current account deficit permanently.”
Minister of Treasury and Finance Mehmet Simsek made an evaluation about the Central Bank’s Investment Commitment Advance Loan Program on his social media account.
Quoting Minister of Industry and Technology Mehmet Fatih Kacir’s post regarding the program, Simsek said:
“It is an important program. We will provide strong support to the production of high-tech products that have an important share in foreign trade. We aim to reduce the current account deficit permanently. In the process, the Ministry of Industry and Technology will examine the technical competence, the banks will examine the financial feasibility, and the final decision will be made by the Central Bank.”
Simsek wishes that the program will be beneficial for the country.
Regarding the program in question, Kacir said, “The Central Bank announced the new Investment Committed Advance Loan Program, which focuses on technological and strategic investments and is planned to allocate a limit of ₺300 billion in three years, with an annual limit of ₺100 billion. As the Ministry of Industry and Technology, we have published a list of strategic priority products consisting of 281 products and technology areas consisting of 261 titles for investment projects of ₺1 billion and above, in which we will evaluate technology and strategy.”
Source: Trthaber / Prepared by Irem Yildiz