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ARTICLE · 20 DECEMBER 2016

Turkey Updates Treasury Support Scheme To Encourage Access to Finance

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Turkey has updated procedures and principles for the Undersecretariat of Treasury's ("Treasury") activities to support financial lease companies and banks which are shareholders of credit guarantee institutions

TurkeyFinance and Banking
Dr. E. Seyfi Moroğlu, LL.M.
Dr. E. Seyfi Moroğlu, LL.M.
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Turkey has updated procedures and principles for the Undersecretariat of Treasury's ("Treasury") activities to support financial lease companies and banks which are shareholders of credit guarantee institutions. Amendments aim to improve access to finance for SMEs and non-SME beneficiaries. The changes include tradesman, craftsmen and self-employed persons, agricultural enterprises and farmers, provided they are deemed to be SMEs.

The Council of Ministers Decree on Treasury Support Provided to Credit Guarantee Institutions numbered 2016/9538 ("Decree") was published in Official Gazette number 29896 on 22 November 2016, entering into effect on the same date.

Under the Decree, the Treasury's support continues to be provided through Kredi Garanti Fonu A.Ş. ("Institution"), subject to an agreement with the Treasury.

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