TÜRK EXİMBANK
TURKISH EXPORT CREDIT BANK INC.
NUMBER : B.02.EXI.0.13.00.02-620/1387
SUBJECT: TOURISM LOAN
REPUBLIC OF TURKEY MINISTRY OF CULTURE AND TOURISM
ALL BANKS
TURKEY TOURISM INVESTORS ASSOCIATION (TYD)
ASSOCIATION OF TÜRKISH TRAVEL AGENTS (TÜRSAB)
TURKEY PRIVATE SECTOR AVIATION OPERATORS ASSOCIATION (TÖSHİD)
UNION OF CHAMBERS AND COMMODITIES OF TURKEY (TOBB)
TURKEY HOTELS FEDERATION (TÜROFED)
ANNOUNCEMENT REGARDING TOURISM LOANS
Türk Eximbank provides both cash and non-cash financing support to foreign exchange-earning services and international contracting services, primarily for our exporters; furthermore, since 1997, it has been providing services to travel agencies / tour operators holding an A Group Business Certificate operating within the framework of the Travel Agencies and Travel Agencies Association Law No. 1618 (A Group travel agencies), as well as to airline transport companies operating within the framework of the Turkish Civil Aviation Law No. 2920, through the Tourism Marketing Loan Program. With the Council of Ministers Decision No. 2009/15299, our Bank has now included tourism enterprises that have obtained certificates from the Republic of Türkiye Ministry of Culture and Tourism, who are considered exporters, and whose primary function is to provide accommodation services and who provide at least 1 Million US Dollars in foreign exchange from abroad, into its service portfolio. The “Tourism Loan Program,” which aims to provide financing support for all kinds of services such as accommodation, food and beverage, transportation, and international promotion and marketing provided by these enterprises to the tourists they bring from abroad, and which combines the existing Tourism Marketing Loan Program with new lending opportunities for tourism enterprises, was implemented on 14/06/2010.
Within the framework of the company limit, which has been increased to a maximum of 8 million US Dollars depending on the foreign currency performance provided from abroad, to Group A travel agencies, private airline companies, and tourism enterprises;
- With a maximum maturity of 540 days
- In TL or foreign currency
- With interest rates varying according to maturity and risk level (7%-9.25% for TL loans; LIBOR+1.50-LIBOR+3.25 for foreign currency loans)
- Against bank letters of guarantee, government domestic/foreign debt securities, or KGF guarantees
will provide the loan.
Loan applications must be made to the Türk Eximbank General Directorate.
Osman ASLAN Necati YENİARAS
Deputy General Manager Acting General Manager