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Financials

Turkey raises credit guarantee fund volume to 250 bln lira

ISTANBUL, March 10 (Reuters) - Turkey has raised the volume of its credit guarantee fund, used to support the real sector, to 250 billion lira ($66.35 billion), under a decision published in the country’s Official Gazette on Friday.

The maximum maturity of loans offered will be 10 years for investment loans and 5 years for working capital loans, and the one-time commission for the loan will be 0.03 percent, the decision showed.

The Turkish government has been seeking ways to support its real sector, which is highly indebted in dollars.

$1 = 3.7680 liras Reporting by Behiye Selin Taner; Writing by Ece Toksabay; Editing by Daren Butler

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