Govt to lend small exporters TL 1,7 bln

Industry and Trade Minister Zafer Caglayan said yesterday that the government is set to extend TL 1.7 billion in loans to small- and medium-sized enterprises (SMEs) doing exports as part of its measures to fight the global economic crisis. "These loans will be interest-free or low cost," he said. Caglayan said that the SMEs will be responsible for paying back the loans six months after taking them out, adding that the loans would have a limit, as they want to give them to as many firms as possible. He explained that SMEs that have debts to social security will be eligible for the loans so long as they first settle their debts. He also said the government plans to extend another TL 3 billion to SMEs, shopkeepers and small manufacturers.