250 Billion Lira Financing Package for the Manufacturing Industry Launches

The Ministry of Industry and Technology has shared the details of the new 250 billion lira financing package prepared for businesses in the manufacturing industry. Applications for the support program, which aims to protect production, exports, and employment, will begin to be accepted as of September 1.

Details of the Financing Package

A new financing package totaling 250 billion liras has been prepared by the Ministry of Industry and Technology to support businesses in the manufacturing industry. It has been announced that applications for this comprehensive support program, which aims to ensure the uninterrupted continuation of production processes, will begin as of September 1.

Credit Limits and Maturities

Within the scope of the updated support, companies are granted the opportunity to utilize loans with both fixed and variable costs. The credit limit determined as 50 million liras for SMEs has been increased to 150 million liras for large enterprises. Companies will be able to benefit from financing opportunities with up to six months of grace periods and maturities of up to 36 months.

Support for Those Protecting Employment

For businesses that maintain their average employment levels between the January-June period during the July-December period, 12 points of the financing cost on the loans they use will be covered by the Ministry. In this way, the annual financing rate for fixed-cost loans will drop down to 25 percent.

R&D and Regional Investments

Companies operating in R&D and design centers or technoparks will be able to use credit up to twice their monthly employment cost. Incentivized companies moving their operations from the first region to the fourth, fifth, and sixth regions will also be supported for their new employment.

Medium-Term Program Expectations

It was reported that the preparations for the new Medium-Term Program are in the final stage and that critical measures to support industrialists and exporters will be included in the program's content. Minister of Industry and Technology Mehmet Fatih Kacır emphasized that economic growth and production will be supported through these steps.