Business · Companies · 7 hrs ago
Turkey to Expand 250 Billion Lira Manufacturing Credit Program
Turkey has opened 250 billion lira in credit for manufacturers, backed by 150 billion lira in guarantees under a new financing program.
Industry and Technology Minister Mehmet Fatih Kacır announced the plan while answering lawmakers’ questions about his ministry’s 2027 budget.
The program is intended to help manufacturing businesses gain access to loans.
Kacır said Turkey’s manufacturing value added rose from $41 billion in 2002 to $259 billion, and production has grown since January 2020.
He also said the country has expanded production of higher-technology goods and increased their share of exports.
The credit program will be expanded and continue next year, Kacır said.
The announcement comes alongside other government support for industry, including loans for investment projects and funding for small businesses.
Turkey will continue and expand its Manufacturing Industry Financing Program next year, Industry and Technology Minister Mehmet Fatih Kacır said.
The program provides 150 billion lira in guarantee support, enabling access to 250 billion lira in loans.
Kacır made the announcement while answering lawmakers’ questions about his ministry’s 2027 budget.
He also said the government had raised the size of a separate investment-linked advance loan program to 750 billion lira this year.
- Who
- Industry and Technology Minister Mehmet Fatih Kacır announced the plan.
- What
- Turkey will expand its Manufacturing Industry Financing Program next year. The program offers 150 billion lira in guarantee support to enable 250 billion lira in loans.
- When
- Kacır made the announcement on November 2, 2026. He said the program would be expanded next year.
- Where
- At the Turkish parliament’s Plan and Budget Commission.
- Why
- The program is intended to provide financing access for the manufacturing industry.
This story does not have two clearly opposing sides.
The government launched the Manufacturing Industry Financing Program, offering 150 billion lira in guarantees to enable 250 billion lira in loans.
Kacır told parliament’s Plan and Budget Commission that the program would be expanded next year.
The government plans to continue the program with an expansion.
- Total loan access
- 250 billion lira
- Guarantee support
- 150 billion lira
- Expansion
- Planned for next year
- Minister
- Mehmet Fatih Kacır
What people are saying
We are opening the way to access 250 billion lira in loans with 150 billion lira in guarantees. We will expand this program and continue it next year.