Turkey, Credit Guarantee Fund sign trade protocol

State Minister Kursad Tuzmen said that the transportation sector should be supported during the current global crisis.

Turkey, Credit Guarantee Fund sign trade protocol
Turkish state minister for foreign trade said on Monday that the protocol signed between Credit Guarantee Fund (KGF) and International Transporters' Association (UND) would help interested companies benefit from Turkish Eximbank's international transportation loans in an easier way.

Speaking at the signing ceremony of the protocol, State Minister Kursad Tuzmen said that the transportation sector should be supported during the current global crisis.

Noting that Export Credit Bank of Turkey (Eximbank) offered loans to the transportation sector for the first time, Tuzmen said that the Credit Guarantee Fund (KGF) would provide "guarantee" for international transportation companies thanks to the new protocol signed between KGF and UND.

"By this way, the companies will not have to take letters of guarantee from banks, which is a quite expensive and difficult process," Tuzmen said.

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Last Mod: 16 Şubat 2009, 18:38
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