President Recep Tayyip Erdoğan introduced on Wednesday that Türkiye would elevate the scale of its advance mortgage program for medium-high and high-tech investments by 70% to TL 500 billion ($12.65 billion).
Erdoğan stated the Central Bank of the Republic of Türkiye’s (CBRT) Advance Loans Against Investment Commitment (ALAIC) will likely be expanded from the present allocation of TL 300 billion.
He was talking to members of his ruling Justice and Development Party (AK Party) in Parliament.
Since 2023, the central financial institution has been allocating ALAIC for funding tasks with a complete worth of at the very least TL 1 billion, based mostly on the strategic and technological evaluation scores companies obtain for his or her funding plans.
Loans underneath the scheme are channeled by middleman banks and provide a grace interval of two years and a most maturity of 10 years.
The CBRT has allotted TL 300 billion over three years, with an annual cap of TL 100 billion.
Source: www.dailysabah.com