Treasury and Finance Minister Berat Albayrak stated that with the participation of three public banks in three main fields of activity, 30 billion liras of financing will be provided by the end of the year with the IVME (Forward, Efficient, National Industry) Financing Package.
Albayrak reminding that they will adopt a model that prioritizes export-based, value added technological product manufacturing rather than consumption and import, said that this package is also in line with the models ‘New Economy Approach’ (YEP) and 3 years guideance ‘New Economy Program’ before explained.
Albayrak, ” We called this package the Ivme (FENI) Financing Package. So Forward, Efficient, National Industry Financing Package. The Ivme Financing Package will target sectors with four key features. The sectors with high import dependency, foreign trade deficit, high contribution to employment and high export potential will be covered by this package. In this context, the strategic priority will be in the medium-high and high-tech products and sectors.
Albayrak stated that the three main areas of activity are raw materials and intermediate goods, machinery manufacturing and agricultureand continued ” Our first financing area is manufacturing raw materials and intermediate goods. The improvement in this field will contribute to the current account balance positively. 4 titles are defined like, chemical / medical (pharmaceutical) products, plastic and rubber products; artificial and synthetic yarns; paper, cardboard and cardboard sectors. In this context; basic pharmaceutical products, dyes and plastic raw materials, etc. many industry products will be supported. ”
Albayrak said under the four main headings, the primary form of plastic raw materials, organic basic chemicals, especially synthetic synthetic fibers, essential oils, inorganic basic chemicals up to 21 sub-titles of raw materials and intermediate goods production will be supported.
Minister Albayrak, explained the second main area of activity supported will be the machinery production and gives information, “2010-2018 period in the machinery and equipment sector, the average foreign trade deficit was $ 23 billion. In this area, six sectors to be supported will be prioritized like ‘electrical machinery and components’, ‘computers, electronics, optics’, ‘parts and parts of motor vehicles’, ‘engines and components’, ‘general industrial machinery and components’ and ‘electrical equipment machines’. “
The Treasury and Finance Minister Albayrak stated that the third and final activity supported will be the agricultural sector and said ”Agriculture is of great importance both for combating inflation, for increasing exports and for decreasing imports.” The headings in this area have stated that they have identified four titles of “greenhouse cultivation”, “soybean, corn, sunflower production”, “livestock-fodder plant production” and “Co-equipment Package”
Albayrak, thus, considered to sectors, sub-sectors and underlining that they will be providing a total of 30 billion liras a strong financing to product groups, of Turkey’s economy and industry thumbnail as state and government in order to realize their potential they would continue to do whatever needed. He emphasized that not only in terms of the real sector, but also a very useful financing product in terms of the banking sector is created.