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Turkey's credit fund has backed 219 bln lira of loans - finance minister
October 16, 2017 / 8:26 AM / a month ago

Turkey's credit fund has backed 219 bln lira of loans - finance minister

ANKARA, Oct 16 (Reuters) - Turkey’s Credit Guarantee Fund has backed loans worth 219 billion lira ($60.18 billion) so far, Finance Minister Naci Agbal said on Monday.

The size of the Credit Guarantee Fund, a government stimulus that guarantees loans to small and medium-sized enterprises that could not otherwise get credit, was increased by more than ten-fold to 250 billion lira in March.

Speaking at a news conference, Agbal also said that Turkey will allocate some additional 18 billion lira for defence modernisation. ($1 = 3.6391 liras) (Reporting by Nevzat Devranoglu and Orhan Coskun; Writing by Ezgi Erkoyun; Editing by Daren Butler)

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