Business

Ziraat Participation’s support to agriculture will accelerate the flow of finance to the sector

While the agricultural sector has become increasingly critical with the increasing food prices in the world economies after the epidemic, the resources transferred to the sector are expected to increase with the addition of Ziraat Participation to the banks that support agricultural production in Turkiye.

The Turkish banking sector, which offers special campaigns and loan opportunities to farmers and companies operating in the field of agriculture, with the concept of “Agricultural Banking”, takes responsibility to meet the needs of farmers and producers.

While Ziraat Participation Bank is added to the banks acting for this purpose, it is expected that the interest in agriculture will increase thanks to the resource transferred to the sector to reach wider masses.

According to the information compiled by the AA correspondent, Ziraat Participation Bank is the first participation bank in Turkiye to meet the financing needs for agricultural production.

According to the Banking Regulation and Supervision Agency (BDDK) data, as of the end of last year, the total loan support provided by the banking sector to companies operating in the field of agriculture reached ₺334 billion 278.2 million.

While the said figure was at the level of ₺166 billion 680.4 million at the end of 2021, this pointed out that the credit support given to agricultural production has doubled in the past year.

“We will support farmers for financing all kinds of agricultural inputs”

In his statement to the AA correspondent, Ziraat Participation General Manager Metin Ozdemir said that as Ziraat Participation, they took part in agriculture financing with the decision of the President, with the principle of “more when you share”.

Expressing that they are proud of being in agriculture with the financing they will start to make available in all branches in accordance with the name of Ziraat Participation, Ozdemir said:

“For the first time in our country, as a public participation bank, we offer our state-supported financings to the service of our people. We have started to offer our state-supported financing packages to our citizens in areas such as cattle and small cattle breeding, beekeeping, poultry industry, forage plant production, sapling production, ornamental plant production, strategic plant production, tractor, combine harvester, agricultural machinery park, modern pressurized irrigation system, land purchase, licensed warehousing, cold storage, aquaculture sector, processing of agricultural products, traditional animal production, cattle breeding, fruit growing and viticulture, private forestry and agricultural solar energy investment within the agricultural ecosystem.”

Ozdemir stated that they will also support farmers by using other participation banking methods to finance all kinds of agricultural inputs, “We aim to support value-added production and contribute to sustainability in the agricultural ecosystem.”

Expressing that they will establish strong communication with all the stakeholders of the agricultural sector through their branches, Ozdemir said that the employees in the branches will be with the producers in the field and they will work to provide financial support under the most appropriate conditions.

Source: AA / Prepared by Irem Yildiz

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