Gov't to grant $58 mln in loans to SMEs by year's end
A government project to extend cheap credit to the country's small and medium-sized enterprises (SMEs) will see TL 104 million ($58.43 million) in grants and low-interest loans to around 5,000 businesses by year's end, Ergün announced on Tuesday.

"We're working to make the expectations of SMEs a reality," Ergün said as he spoke to reporters during a Tuesday press conference on the successful launch in China of Göktürk-2, Turkey's first domestically produced high-observation satellite.

The science minister said that around 16,000 firms had so far applied for financial support from the government, which will provide grants of up to TL 30,000 and as much as TL 70,000 in low interest four-year loans to entrepreneurs. That money will help startups gear up "research and development, start a company website, cover the cost of attending trade fairs, search for qualified employees and travel abroad for business," Ergün was quoted by the Hürriyet daily as saying.

Ergün also remarked on the effect of the global economic downturn on Turkish startups, stating that the state would continue to provide grants for firms throughout 2013, promising that the "outlook will be better in 2013" for entrepreneurs.

(Cihan/Today's Zaman) CİHAN
Last Modified: 2012-12-19 20:00:03
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