Karacadağ Development Agency And Işbank Signed Cooperation Protocol
31 July 2013 15:17
Karacadag Development Agency tries to facilitate small and medium sized enterprises' accession of financial resources in Diyarbakir and Şanlıurfa. The Agency, in cooperation with Turkey Iş Bank, provide five-year loan with upper limit of £500 thousand dollars worth for SMEs that eligible to receive a grant. Karacadağ Development Agency and Iş Bank signed a cooperation protocol at the Agency’ building. The protocol was signed by Secretary general of the Agency, Dr. İlhan Karakoyun and Diyarbakir regional sales director of Iş Bank Murat Önen.
Speaking at the ceremony, Dr. Karakoyun said that "SMEs are the cornerstone of the regional economy. Crucial challenges of SMEs are to find a suitable loan, and to have access to financial resources. We know that public investments are not sufficient for the development of our region. Today, the government, focusing on infrastructure works which pave the way of private sector. Our Agency also strives to find suitable co-financing mechanisms for SMEs which are entitled to receive grant supports for their projects. By working in partnership with the Bank in implementing business projects, SMEs will be provided with a significant leverage. Murat Önen said, "I think SMEs in Diyarbakir and Şanlıurfa have great potential to contribute to the regional development. Within the framework of the cooperation with the Agency, awarded grants SMEs "loan package" prepared. Loan Package composed of three elements which are Project Investment Loan, Business Loan and Letter of Guarantee. Project Investment Loan for the first year without any principal repayment would be maximum 5 years. For business loan with 1-36 months maturity period, a 1,10 % interest rate per month will be applied.