Turkish central bank doubles daily limits for rediscount credits to boost exports

In a bid to bolster the nation's export sector and enhance foreign exchange earnings, the Turkish Central Bank has announced a significant increase in the daily limits for the utilization of rediscount credits.
12.09.2023 12:46:42 / English News

Effective immediately, the daily limit for these credits has been raised from TRY 1.5 billion to TRY 3 billion.

This move comes after the Central Bank's previous announcement on July 25, 2023, which had already seen the daily limit increased from TRY 300 million to TRY 1.5 billion. The latest decision to double the daily limit is aimed at further supporting selective credit utilization and improving access to finance for exporters.

A key focus of this expansion is to promote the growth of Small and Medium-sized Enterprises (SMEs) and boost overall export performance. The Turkish Central Bank has pledged to take into account the increase in the share of SMEs and the positive impact on the export sector while extending rediscount credits.

This development is expected to have a significant impact on Türkiye's export-driven economy, providing businesses with greater financial resources to expand their global reach and contribute to the country's economic growth. (ILKHA)