Press Release on Rediscount Credits for Export and Foreign Currency Services (2021-41)
Press Release on Rediscount Credits for Export Services and Currency Generating Services
September 17, 2021
The Central Bank of the Republic of Turkey has changed the conditions for the use and repayment of rediscount credits for export and currency generating services.
The total rediscount credit limit has been increased to $ 30 billion. Of this limit, USD 20 billion is allocated to credits to be granted via the Export Credit Bank of Turkey (Turk Eximbank), and USD 10 billion is allocated to credits to be granted via other banks. The Turkish Lira equivalent of USD 5 billion of the aforementioned total limit can also be used for Turkish Lira rediscount credits.
- The credits will be granted to net exporting enterprises whose amount of exports is at least 10% higher than the amount of their imports during the last three years or the last year.
- Credits can only be used for the payment of expenses specified in Turkish Lira.
- Credit repayments will only be made with export earnings.
The maximum loan maturity has been updated from 240 days to 180 days. For credits granted to finance exports to new markets, exports of high-tech products and currency-generating services, the maximum maturity will remain the same.
- The maximum commission rates that may be charged by intermediary banks will be 100 basis points.
- For companies that commit to selling additional export earnings to CBRT, the interest rate applicable to the credit will be discounted.
For more information, please send an email to [email protected]
Türkiye Cumhuriyet Merkez Bankası
(Central Bank of the Republic of Turkey)
The head office
Haci Bayram Mahallesi
Istiklal Caddesi 10 06050 Ulus Altındağ / Ankara
+90 (312) 507 50 00
Central Bank of the Republic of Turkey published this content on September 17, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on September 17, 2021 11:21:02 AM UTC.