Development and Investment Bank of Türkiye Launches the “Investment Support” Turkish Lira Loan with Maturities of Up to 10 Years
Development and Investment Bank of Türkiye launched the “Investment Support” Turkish Lira Loan as of today, offering a fixed interest rate of 7.75% and maturities of up to 10 years under the TRY 18 billion Advance Loan Against Investment Commitment facility funded by the Central Bank of the Republic of Türkiye.
Within the framework of the Advance Loan Against Investment Commitment facility, Development and Investment Bank of Türkiye offered investors the “Investment Support” Turkish Lira Loan with maturities of up to 10 years, at an interest rate of 7.75% as of today, indexed to the prevailing policy rate determined by the Central Bank. Except for exceptional and specialised investment projects, the loan is capped at TRY 400 million per company so that as many businesses as possible can benefit from the facility.
Working in cooperation with the Central Bank, Development and Investment Bank of Türkiye will use the “Investment Support” Turkish Lira Loan, with maturities of up to 10 years, to support investments aligned with Türkiye’s sustainable development objectives—investments that reduce imports and support exports, reduce external dependence and the current-account deficit, increase employment, improve productivity, and generate high value-added production.
Available to companies holding an Investment Incentive Certificate and planning investments in priority sectors consistent with the purpose of the loan, the facility protects investors against uncertainty caused by exchange-rate fluctuations by offering Turkish lira financing at a fixed rate and with maturities of up to 10 years.
“We Are Fulfilling Our Development Banking Mission”
Noting that Türkiye and the world were going through a pandemic and recalling once again the importance of development banking during such extraordinary circumstances, TKYB CEO İbrahim Öztop stated that the Bank continued working in line with its strategies to strengthen the economy.
Öztop said: “In 2019, when we completed our restructuring, we brought new resources into the economy. We treated sustainability as an indispensable value for nature, the economy and society, while maintaining our commitment to the United Nations Sustainable Development Goals. Through our new investment banking products and Türkiye Development Fund, we created financial instruments that will enable us to support the real sector more strongly. We entered 2020 with strong motivation to direct the resources we provide for employment, import substitution and localisation investments towards high-quality projects whose entire processes and outcomes we would personally monitor. The value of development banking, which contributes to building sound national economies resilient to unforeseen risks, has become even more evident during these difficult days. As Development and Investment Bank of Türkiye, we are continuing to fulfil our mission and contribute to the collective effort to ensure that our society emerges from this deeply challenging period with the least possible damage by cooperating with the Central Bank on this new loan product. Through the ‘Investment Support’ Turkish Lira Loan with maturities of up to 10 years, we will support sectors and investors and help limit the effects on the Turkish economy of the uncertainty created globally by the coronavirus pandemic.”
About Development and Investment Bank of Türkiye
Since 1975, Development and Investment Bank of Türkiye has supported development initiatives in every area needed by Türkiye. Drawing on its strong international standing and the resources it secures, it supports competitive and efficient production for a stable and robust economy. In line with the 2023 objectives, guided by the 11th Development Plan and the United Nations Sustainable Development Goals, the Bank focuses on financing sustainable development. With experienced and specialised human resources possessing command of global banking standards, a dynamic structure, and innovative products and services, it will continue to stand by investors.