President Recep Tayyip Erdoğan on Thursday introduced three mortgage packages for farmers, together with the Farmer Support Loan, Agricultural SME Loan and Agricultural Debt Transfer Loan, the boundaries of which vary from TL 250,000 ($13,323) to TL 15 million ($799,416) with maturities to differ from 36 to 120 months.
Speaking on the Ziraat Bank Agricultural Ecosystem Meeting, Erdoğan mentioned that the help mortgage, which will probably be supplied by Ziraat Bank will probably be allotted as much as TL 250,000 per individual with an annual rate of interest of 9.75% and a 36-month maturity interval.
The president commented that each international disaster “reminds us how strategic food production and supply is.” Stating that the interruption of grain shipments as a result of Russia-Ukraine disaster poses the specter of starvation all over the world, Erdoğan mentioned: “Türkiye has introduced humanity again from the brink of a serious disaster by enabling a resumption of grain cargo by way of profitable diplomacy. This additionally confirmed the significance of our personal agricultural manufacturing capability.”
Erdoğan additionally mentioned that they may quickly implement a regulation, as a part of the credit-support program, that may allow Ziraat Participation, an Islamic finance financial institution in Türkiye, to offer low-cost monetary help for farmers.
Treasury and Finance Minister Nureddin Nebati, additionally talking on the program, said that they’re rising agricultural help daily, noting, “We allocated TL 54 billion for agricultural assistance to our farmers in 2023, with an increase of 109% compared to the initial budget of last year.”
Nebati who additionally mentioned that the worldwide pandemic and the Russia-Ukraine conflict clearly confirmed all nations how strategically essential the agricultural sector is, famous that in 2022, they elevated the agricultural help funds by 54% considering the rise in international commodity costs, in comparison with the preliminary funds. “We provided TL 3.1 billion of diesel support and TL 1.9 billion of fertilizer support to our farmers,” the minister mentioned.
Ziraat Bank General Manager Alpaslan Çakar, for his half, mentioned that local weather change, the pandemic, issues within the provide chain, the conflict between Russia and Ukraine as soon as once more confirmed that it’s vitally essential to make sure the sustainability of wholesome and dependable meals provide, and for this purpose, the event and strengthening of agricultural manufacturing.
In line with this angle and sustainable financing methods, Çakar mentioned they elevated their agricultural loans from TL 109 billion to TL 232 billion in 2022.
