The official export credit agency of Türkiye, Türk Eximbank carries on with its operations adhering to the roadmap and projects determined in the Strategic Transformation Program it has launched in 2020 in line with our country’s export strategies.
Committed to sustaining its support to exporters at an increasing extent in the new century of the Turkish Republic, Türk Eximbank takes heed of international best practices, as well as the policies and measures specified in economy programs when setting out its strategic priorities and goals.
In the new century of the Turkish Republic
Committed to sustaining its support to exporters at an increasing extent in the new century of the Turkish Republic, Türk Eximbank takes heed of international best practices, as well as the policies and measures specified in economy programs when setting out its strategic priorities and goals.
The strategic transformation program launched within the scope of restructuring will be carried out solidly in 2024.
Türk Eximbank launched the “Türk Eximbank Strategic Transformation Program” with the aim of more effectively supporting our country’s export strategies and flourishing the foreign trade ecosystem in line with the worldwide best practices in collaboration with its stakeholders. Under this program, Türk Eximbank is transforming into a structure that proactively supports the exporters that generate high added-value for the national economy and that pursue operations in line with our country’s export strategies. It also identifies the needs and obstacles of exporters and companies with export potential, expands its product and service array targeted at their needs, and improves exporters’ experience of making use of Türk Eximbank support schemes.
In line with our Bank’s main goal, which is defined as “Augmenting the Impact of Eximbank Support Schemes to the Country’s Exports”, the Bank’s strategic priorities have been defined as increasing the support schemes provided for value-added exports, increasing the support schemes provided to SME exporters, and increasing the support schemes targeted towards green transformation.
To reach these strategic goals, the Bank’s strategic priorities for 2024 were set as follows:
- Carry on with digitalization and technological transformation programs,
- Develop support mechanisms directed towards exporters’ green and digital transformation,
- Continue with Eximbank credit and insurance business model transformation programs,
- Devise support mechanisms focused on high technology and added value,
- Launch foreign trade module and intermediate foreign trade transactions.
In 2024, the Bank will keep carrying out its activities and executing its projects in alignment with our country’s export strategies, the Bank’s strategic priorities and goals.
Financing of High Technology and Value-Added Exports will continue to be prioritized.
Türk Eximbank’s business model and corporate infrastructure will be developed in view of international best practices, and Eximbank’s support schemes will be made available with priority given to green and digital transformation in the financing of high technology and value added exports.
New customer acquisition will persist on the back of collaboration with İGE (İhracatı Geliştirme A.Ş.) and KGF.
With the aim of increasing the number of our exporters benefiting from the Bank’s support programs, İGE-guaranteed credit facilities will be made available, whereas KGF Treasury-Backed Guarantee Transactions Protocol will be reactivated, thereby increasing the number of exporters making use of our support schemes.
Support will be extended to investments in Carbon Border Adjustment Mechanism.
Work is ongoing on support models for minimizing exporters’ carbon tax costs and its targeted to extend credit support with sustainability-themed funds to investments for compliance with the Carbon Border Adjustment Mechanism primarily to global buyers’ suppliers in Türkiye.
Support will be extended to the “Levelling Up Exports to Distant Countries Strategy” also in 2024.
Support will be given to the Ministry of Trade's goal of increasing the range of exports of goods and services and developing trade with countries that are geographically distant from the country and have high export potential. To this end, 2024 Target Countries defined by the Ministry of Trade will be taken into account.
Solid capitalization will be maintained.
On 23 June 2023, the Board of Directors approved increasing Türk Eximbank’s capital of TL 13.8 billion, which is fully paid-in, by TL 6.8 billion to TL 20.6 billion, which incremental amount will be paid by the Republic of Türkiye Ministry of Treasury and Finance, and the capital increase process has been finalized through its promulgation in the Turkish Trade Registry Gazette issue 10871 dated 14 July 2023.
Initiatives in interest-free finance will be broadened.
One of our Bank’s interest-free fund disbursement methods introduced for interest-averse exporters, the İstisna method will be used to finance our customers’ investment needs; furthermore, Participation-Based Export Receivables Insurance will contribute to increasing our country’s exports in a safe environment by insuring the exporters’ export receivables that will arise from their sales of goods in accordance with the Islamic Banking Principles and Standards to non-resident buyers against commercial and political risks.
New digital solutions will be offered for exporters with our Bank’s Strategic Transformation Projects.
Digital service infrastructure reinforcement project will be brought to completion, and the transaction sets offered to exporters through our digital channels will be diversified.
