Home / Agricultural Economy / AGRICULTURAL LOANS EXCEED 121 BILLION LIRAS AS OF JULY…

AGRICULTURAL LOANS EXCEED 121 BILLION LIRAS AS OF JULY…

The banking sector continues its strong support to agriculture, one of Turkey’s strategic economic spheres. Offering special opportunities and credit facilities to farmers, especially with their agricultural banking concept, banks continue to stand by the farmers with different products, taking into account the needs of the agricultural sector and seasonal cash flow.

In order to meet the needs of producers for diesel, fertilizer, pesticides, seeds, seedlings, feed and equipment, banks offer farmers and companies credit facilities such as non-prepayment, payment at harvest and flexible payment, as well as special credit cards for purchases from contracted member businesses.

Agricultural loan balance increased by 14 billion lira in 7 months…

According to the information compiled from the Banking Regulation and Supervision Agency (BRSA) data, the amount of loans provided by the Turkish banking sector in agriculture, which was 107 billion 834 million TL at the end of 2019, reached 121 billion 832 million TL at the end of July this year. Thus, the agricultural loan balance of the sector increased by 13 billion 998 million TL in the 7-month period.

The balance of the agricultural loans granted indicated an increase of 13 percent as of the end of July compared to the end of 2019. Of the 121.8 billion liras loan balance in the agriculture sector, 35.5 billion liras was short-term, 81 billion liras medium and long-term, 5.3 billion liras non-performing loans.

Support of 3.2 billion lira to the fishing industry from banks…

While the loan balance made available to the fishing industry was 2 billion 546 million TL at the end of 2019, this amount increased to 3 billion 202 million TL by the end of July. In the 7 months since the beginning of the year, the loan balance granted to the fishing industry rose by 656 million TL.

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