ISTANBUL, June 27 — Turkish President Recep Tayyip Erdoğan announced that the daily limit for rediscount credits provided to exporters through the Central Bank has been increased to TRY 5 billion, expanding access to financing as the government seeks to sustain export growth amid challenging global market conditions.
Speaking at the 33rd General Assembly of the Turkish Exporters Assembly (TİM) and the “Champions of Exports” awards ceremony, Erdoğan said the limit, which stood at TRY 300 million three years ago, had previously been raised to TRY 4.5 billion and will now increase by an additional TRY 500 million to TRY 5 billion. The latest adjustment represents an almost 17-fold increase over the past three years.
Erdoğan said the measure forms part of a broader package of financial support aimed at helping exporters maintain production and competitiveness despite weaker demand in key overseas markets, particularly Europe. He noted that rediscount credit volumes extended by the Central Bank have reached TRY 1.3 trillion over the past year.
The president also highlighted other initiatives to strengthen export financing, including increasing the capital of Türk Eximbank to TRY 100 billion. He said the bank had already provided $26 billion in support during the first five months of the year, up 31% from the same period a year earlier, and is expected to reach $60 billion by year-end. Erdoğan added that the Turkish Trade Bank has extended TRY 73.6 billion in financing, while İhracatı Geliştirme AŞ (İGE) has provided guarantees worth TRY 200 billion backing TRY 228 billion in loans.
Looking ahead, Erdoğan reaffirmed Türkiye’s ambition to expand exports to more distant markets, targeting $50 billion in exports to remote countries by 2028, while increasing the share of exports to member states of the Organization of Islamic Cooperation to 30%. He said the government will continue simplifying customs procedures through digitalization and introducing new financing mechanisms to support exporters’ evolving needs.
Source: Patronlar Dünyası/ Prepared by: İlayda Gök