Turkish state lenders announced a financial support package on Wednesday in line with the government measures to limit the economic fallout from the coronavirus pandemic.
THE PACKAGE WILL PROVIDE A 36-MONTH TERM LOAN
Three conventional banks — Ziraat, Halk, Vakif — and two participation lenders — Ziraat Katilim and Vakif Katilim — made public their package applicable for all enterprises.
All companies which are feeling the pinch from the pandemic can apply for support, the banks said in joint statement.
The package will provide a 36-month term loan, with 7.5% interest/financing rate annually and six-month non-payment period.
Banks will start accepting applications for credits — for up to 100 million Turkish liras ($15.5 million) — as of Thursday.