Throughout credit lines granted to the reputable foreign banks after a thorough analysis, we are financing foreign buyers willing to import goods and/or services from Türkiye.
Application and evaluation procedure
We expect the foreign buyer to apply directly to the limit allocated foreign bank which would convey the selected loan applications to our Bank.
All applications received by us are evaluated within the current limit of foreign banks, in line with the OECD Arrangement on Officially Supported Export Credits and our Bank’s appraisal criteria.
We are financing Turkish goods and/or services exported from Türkiye (those “Origin Country Code” under the Customs Declaration Form of the Republic of Türkiye is 052).
For loans whose maturity shorter than 24 months, Turk Eximbank’s financing could be up to 100% of the export contract value of goods exported from Türkiye. Yet, in accordance with the OECD Arrangement on Officially Supported Export Credits, for loans whose maturity equal to or more than 24 months, Turk Eximbank’s financing could be up to 85% of the export contract value of goods exported from Türkiye. The remaining 15% of export contract value, in this case, shall be covered by the borrower bank or foreign buyer itself.
What are the benefits?
- We are providing alternative financial resources to foreign buyers throughout the reputable foreign banks.
- We enable our exporters to offer both products packages and financing packages to their foreign buyers.
What are the conditions?
- First of all, there shall be a reputable bank in the buyer’s country, to which a credit limit has already been allocated by us or who is willing to participate in the Program. And this bank should be also willing to borrow on behalf of foreign buyer.
- Goods subject to the financing shall be exported from Türkiye (certified with an “Origin Country Code” of 052 under the Customs Declaration Form of the Republic of Türkiye).
- We are updating the credit limits of the participated foreign banks by taking into account the changes in their balance sheets as well as every current data affecting the economic and political conditions of their country. In this regard, unutilized credit limit of the borrower bank shall be sufficient and up to date as of the date of application.
What are the costs?
In general, the costs arising from credits allocated throughout the Program, in the form of buyer’s credits, are covered by the borrower Bank. Main cost elements:
- Interest (determined on transaction basis, by taking into account the cost of funding of our Bank.)
- Risk Premium (flat, collected in line with the OECD Arrangement on Officially Supported Export Credits.)
- Commission (Management Fee, Commitment Fee).
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Who is Eligible?
Who can benefit?
- The foreign buyers, on behalf of which participated foreign banks accept to become indebted, are the main beneficiaries.
- Our exporters benefit from the opportunity to offer “finance-package” to their foreign buyers in addition to their “product package”, which provides a competitive advantage to them.
Who can apply for it?
The credit application shall be made by the foreign buyer directly to the foreign banks participated in the Program; and these banks shall submit the application to our Bank.
Frequently Asked Questions
The application for the credit has to be submitted by the borrower bank to us.
Is there a grace period?
Yes, there is. We determine the grace period by adding a maximum of six months to the weighted average date of shipment or to the commissioning period, if any.
Is there any cost or commission charged to the Exporter?
Depending on the contract between the exporter and the buyer, the risk premium could be charged to the exporter. If the risk premium is charged to the exporter, the risk premium and if it occurs the corresponding Banking and Insurance Transactions Tax (BSMV) will be deducted from each disbursement (to be) made to the exporter. No other costs or commissions under any title being charged to the exporter by our Bank.
How do you calculate the risk premium?
Please click here to reach the risk premium calculator.
Is it possible to finance export transactions from free zones in Türkiye to 3rd countries in the scope of this program?
Yes, export transactions from free zones may be financed.
Is there any specific conditions for the letters of credit to be issued within the scope of this Program?
Letters of credit shall be irrevocable, non-transferable and subject to the relevant rules of International Chamber of Commerce (i.e. ICC, 2007 Revision of the Uniform Customs and Practice for. Documentary Credits, ICC Publication no.600). In general, apart from these aspects, there is not any specific condition.
Is it possible to provide financing for export transactions with all delivery terms?
No, this is not possible. While delivery terms EXW, FCA, CPT, CIP, DAP, FAS, FOB, CFR and CIF can be subject to the financing, the terms DPU and DDP cannot be financed.
What is the threshold and upper limit for loans?
There is no threshold amount for loan application; yet, the aggregate of the principal amounts of the loans cannot exceed the borrower Bank’s prevailing credit limit.
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