President Recep Tayyip Erdoğan announced on Wednesday that Türkiye would raise the size of its advance loan program for medium-high and high-tech investments by 70% to TL 500 billion ($12.65 billion).
Erdoğan said the Central Bank of the Republic of Türkiye’s (CBRT) Advance Loans Against Investment Commitment (ALAIC) will be expanded from the current allocation of TL 300 billion.
He was speaking to members of his ruling Justice and Development Party (AK Party) in Parliament.
Since 2023, the central bank has been allocating ALAIC for investment projects with a total value of at least TL 1 billion, based on the strategic and technological assessment scores firms receive for their investment plans.
Loans under the scheme are channeled through intermediary banks and offer a grace period of two years and a maximum maturity of 10 years.
The CBRT has allocated TL 300 billion over three years, with an annual cap of TL 100 billion.
