Türkiye's state export agency has provided $25.4 billion in support to the country's exports in the first six months of this year, according to its head on Monday.
Of this, $12.5 billion was provided as loans, and $12.9 billion in insurance, Türk Eximbank said in a statement.
"To provide long-term and cost-effective financing to our exporters, we secured $5.2 billion in funds from international capital markets and financial institutions in the first half of the year, of which $1.1 billion comes from sustainability-themed resources," Türk Eximbank Genel Manager Ali Güney said.
As part of his remarks, Güney noted that the first half of the year was marked by increased trade uncertainties due to geopolitical developments and U.S. tariffs. He also stated that this period stood out for Türkiye as a transition phase with significant progress in combating inflation.
Annual inflation in Türkiye eased to 33.5% in July from a peak of around 75% in May last year.
"Particularly in the first quarter of the year, with the strong growth in global trade, our goods exports grew by over 4% in the first half of the year compared to the same period last year. Our total exports, including service exports, reached $183 billion in the first half of the year, demonstrating a strong performance," he assessed.
Güney emphasized that the support amount provided by the agency increased by 14% compared to the same period last year. He also recalled that they secured new funds totaling $1 billion in euros, U.S. dollars, and Chinese yuan through the highest-value syndicated loan agreement in the bank's history.
These funds will be used to increase access to financing for small and medium-sized enterprises (SMEs) that conduct green product exports and women-owned SMEs, he said.
At the same time, Güney also mentioned that they were developing new products in the field of interest-free banking.
"We have introduced murabaha and work financing products suitable for the needs of exporters," he informed.
"We have aligned our existing financing and receivables insurance products with the principles and standards of Interest-Free Banking. In response to requests from our exporters and participation banks, we have implemented the Export Support Financing Program sourced from the Central Bank of the Republic of Türkiye (CBRT) and begun offering it through participation banks," he added.
He also noted that the number of exporters benefiting from the bank's support has reached 18,552, with SMEs accounting for 83% of these firms.
