Important government supports for SMEs and exporters in regard to mitigate the impact of the COVID-19 pandemic are stated below:
1. Republic of Turkey Ministry of Industry and Technology Supports to SMEs Against COVID-19
A new protection package has been released by the Ministry of Industry and Technology to protect SMEs against COVID-19. The details of the statement are indicated below:
TEKNOYATIRIM Support Program
Postponement of Repayments
Extension of Four Months for the Projects
2. Turk Eximbank Support Package for Exporters Against COVID-19
A support package is launched by Turk Eximbank in order to meet the predictable needs of the exporters during the COVID-19 virus period. The details of the package are stated below:
The maturities of the loans used from the funds of Central Bank of the Republic of Turkey and of Turk Eximbank until June can be extended from 3 to 6 months upon request.
2 years of commitment closure term in short-term loans has been extended to 3 years for the loans that have not yet been closed, loans with no penalty despite of expiration of the commitment, and for all loans to be used by the end of June. The reduction will also continue in the penalties for closing commitments.
Loan maturities of the rediscount credits, which was previously a maximum of 1 year, will be increased to a maximum of 2 years.
No additional insurance premium will be collected from insured companies on maturity extensions up to three months until end of June which requested by buyer companies. Insurance premiums and buyer analysis fees paid by the insured companies will be extended by 30 days.
3. The Validity Period of Industry Capacity Reports Are Extended
Board of Management of The Union of Chambers and Commodity Exchanges of Turkey (TOBB) has stated that the validity period of industry capacity reports is extended.
According to their statement, the validity period of industry capacity reports ending in March and Nisan are extended to May 1, 2020.
Applications for industry capacity reports to be made for the first time and applications for industry capacity reports with modification obligations will continue.
4. Postponement of KOSGEB Credit Payments
According to official statement of Ministry of Industry and Technology, the repayments (to be in April, May, and June) of 136 thousand SMEs benefiting from KOSGEB Credit Program are postponed by three months.
The costs due to the postponement will be covered by KOSGEB.