Türk Eximbank was established in 1987 by the Turkish government to support the country's export growth strategy. It provides various credit, guarantee, and insurance programs to Turkish exporters, contractors, investors, and companies earning foreign currency. These include short, medium, and long-term cash credits as well as non-cash programs. Türk Eximbank works closely with commercial banks in Turkey to encourage export financing. It aims to conform to international standards set by organizations like the OECD.

1. 1
FINANCEMENT OOFF EEXXPPOORRTTSS
AANNDD
““TTÜÜRRKK EEXXIIMMBBAANNKK””

2. 2

3. 3
CCOOFFAACCEE FFrraannccee CCoommppaaggnniiee FFrraannççaaiissee
dd''AAssssuurraannccee ppoouurr llee CCoommmmeerrccee EExxtteerriieeuurr
EEHH GGEERRMMAANNYY GGeerrmmaannyy EEuulleerr HHeerrmmeess
KKrreeddiittvveerrssiicchheerruunnggss--AAGG
TTHHAAII TThhaaiillaanndd EExxppoorrtt--IImmppoorrtt BBaannkk ooff
TThhEEXXIIMMBBAANNKK aaiillaanndd

4. 4
UUSS EEXXIIMMBBAANNKK UUSSAA
EExxppoorrtt--IImmppoorrtt BBaannkk ooff tthhee UUnniitteedd
SSttaatteess
MMEEXXIIMM MMaallaayyssiiaa
EExxppoorrtt--IImmppoorrtt BBaannkk ooff MMaallaayyssiiaa BBeerrhhaadd
EEXXIIMMBBAANNKKAA SSRR SSlloovvaakk RReeppuubblliicc
EExxppoorrtt--IImmppoorrtt BBaannkk ooff tthhee SSlloovvaakk
RReeppuubblliicc

5. 5

6. 6
 The decision of establishment of Türk Eximbank was resulted from the
export growth strategy adopted by Turkey in the early 1980s
 Türk Eximbank was chartered by the Cabinet in 1987
 Türk Eximbank is a fully state-owned bank.
 Türk Eximbank is a full member of the Berne Union since April 1994 and
the founder member of the Aman Union since 2009
 After the establishment of a Customs Union between Turkey and
the EU in 1996 ,The Bank also represents Turkey at the Group on Export
Credits and Credit Guarantees and the Participants Group as an
observer of the OECD.
 Türk Eximbank is committed to confirming to the internationally accepted
rules and regulations such as the OECD Consensus

7. 7

8. 8
 Türk Eximbank currently supports Turkish exporters,
contractors and investors through various credit,
guarantee and insurance programs.
 The Bank works closely with commercial banks
encouraging them to increase their support for the export
sector.
 As well as providing direct lending, the Bank also provides
insurance and guarantees to Turkish commercial banks to
encourage them to finance export transactions backed by
sales made on deferred payment terms.
 In this way, Türk Eximbank channels some portion of
commercial banks’ funds into export financing.

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Pre-Shipment Export Credits
Foreign Trade Companies Short-Term
Export Credits Program
Pre-Export Foreign Currency and
Turkish Lira Credit
Pre-Export Credit Program for Small
and Medium-Scale
Enterprises(SMEs)
Short-Term Pre-Shipment
Rediscount Program
Post Shipment Rediscount Credit
Program
Export-oriented Working Capital Credits
Export-oriented Investment Credits
Brand Name Credits
European Investment Bank Funded
Credits
Overseas Chain Stores Investment
Credits
Shipbuilding and export financing
credits

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International Transportation
Marketing Credit Program
Tourism Marketing Credit Program
Credit Program for Foreign Currency
Earning Services
Overseas Chain Stores
Investment Credit Program
Specific Export Credit Program
Ship-Building Finance and
Guarantee Program
Letter of Guarantee Program for
Overseas Contractors’ Services
EIB-Funded Investment Loan

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• Credits
• Short-Term Export Credits
• Specific Credit Programs
• Credits for Foreign Currency Earning Services
• Credit Programs for Participating to Overseas Trade Fairs

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 Türk Eximbank supports exporters, export-oriented manufacturers,
overseas investors and companies engaged in foreign currency earning
services with short-, medium- and long-term cash and non-cash credit
programs.
 Moreover, export receivables are discounted in order to increase export
volume and to ease access into new and target markets through the
promotion of sales on deferred payment conditions.

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Türk Eximbank extends short-term export credits to exporters and export-oriented
manufacturers to meet their financing needs especially at the pre-shipment stage.
These credits are extended in Turkish Lira or in FX; either directly by Türk Eximbank
or indirectly via selected Turkish commercial banks.
Pre-Shipment Credits provides financial support to exporters starting from the
early stages of production(TRY/FX) via intermediary Turkish commercial banks,
which have credit lines with Eximbank.These commercial banks are responsible for
the risk of the borrowers. Türk Eximbank therefore assumes bank risk rather than the
exporter’s or manufacturer’s.
Foreign Trade Companies Short –Term Credits Programs This facility
helps large export trading companies to meet their export financing needs in
TRY/FX(US dollars, pounds sterling, Japanese yen, euros). All companies entitled to
Foreign Trade Corporate Company/Sectorial Foreign Trade Companies are eligible
for credits. Eximbank extends credits directly to exporters for up to 100% of FOB
export commitments, with a repayment period of up to 180 days.

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 Pre-Export Foreign Currency and TRY Credits are available to export-oriented
manufacturers, manufacturer-exporters, and exporters, except Sectoral
Foreign Trade Companies and Foreign Trade Corporate Companies. It aims to
increase the competitiveness of exporters in international markets and support
export projects in the preparation stage. Credits are extended by Türk Eximbank
directly to exporters upon their 100 % FOB export commitment, are provided up
to 540 days in foreign currency (US dollar, pounds sterling, Japanese yen, Euro)
or TRY
 Pre-Export Credit Program for Small and Medium Scale Enterprises
(SMEs) this is a short-term credit facility (effective since April 2003) extended
both in TRY /FX to only SMEs. It aims to provide financial support in the
preparatory stage of their exports , are extended by Türk Eximbank directly upon
their 100 % FOB export commitment, are provided up to 540 days in foreign
currency (US dollar, pounds sterling, Japanese yen, Euro) or up to 360 days in
TRY. Credit risk cannot exceed USD 500,000.

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 Short-Term Pre-Export Rediscount Program This pre-shipment
financing facility is being executed within the framework of an additional limit to
the post-shipment discount limit extended to Türk Eximbank by the Central Bank
of Turkey. The program which requires an export commitment aims at providing
support to Turkish manufacturers, exporters and manufacturer-exporters with
maturity up to 180 days in the pre-shipment base. Promissory notes issued by
exporters on behalf of Türk Eximbank, which have the aval of banks possessing a
short-term letter of guarantee limit with Türk Eximbank are discounted under this
limit. This program covers export transactions based on cash against documents
and irrevocable letters of credit. Export receivables with a maturity of up to 120
days by Central Bank of Turkey and up to 180 days are discounted from Türk
Eximbank's own sources on LIBOR+spread, where spread is determined by Türk
Eximbank.

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 Post Shipment Rediscount Credit Program
This post-shipment financing facility aims at increasing the competitiveness of
Turkish exporters in international markets by enabling them to sell Turkish goods
on deferred payment terms and eliminating overseas risks thereby encouraging
them to enter into new and target markets. This credit program is implemented
using funds allocated by the Central Bank of Turkey. Export receivables subject to
bankers’ acceptances provided by commercial banks and/or irrevocable letters of
credit and/or export receivables which were insured by Türk Eximbank Short-
Term Export Credit Insurance policy are discounted by Türk Eximbank. Export
receivables with a maturity up to 120 days are discounted on LIBOR+spread,
where spread is determined by Türk Eximbank.

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 Since some these credits are not available and applicable nowadays since the
limits are full for along time = just brief information for your good selves.
 The objective of the program is to provide financing support up to 2 years for
export of durable and non-durable consumer goods, up to 5-7 years for export
of capital goods and up to 10 years for projects undertaken by Turkish
companies.

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• General Information
• Overseas Chain Stores Investment Credit Program
• Specific Export Credit Program
• Ship-Building Finance and Guarantee Program
• Letter of Guarantee Program for Overseas Contractors’ Services
• EIB-Funded Investment Loan

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Specific Credit Programs serve export transactions
including certain service industries, which cannot be
covered under the standard credit and guarantee
programs.

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 Overseas Chain Stores Investment Credit Program the aim of this
program is to support direct sales of Turkish brand consumer goods in
international markets and establish Turkish brand names and promote Turkish
designed goods abroad. Under this program, Türk Eximbank supports overseas
investments of Turkish entrepreneurs for the establishment of shopping malls and
chain stores in which various consumer goods may be offered for sale.
Entrepreneurs who benefit from this program may also benefit from short-term
export credit programs for the export of Turkish goods to be sold in these stores.
Credits under this program are granted for up to seven years. Interest rates are
determined by Türk Eximbank on project basis. The maximum credit limit is 85% of
the investment value.

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-Specific Export Credit Program This program is used to evaluate credit demands
that cannot be subject to the standard credit programs of Türk Eximbank. It is a
medium-term pre-shipment financing facility provided to manufacturers/exporters and
overseas contractors for projects that generate foreign currency. Under this program,
Türk Eximbank provides support to companies that engage in factory construction
and manufacturer/exporters that produce high-value-added industrial export goods.
With this program, the export of new products to new markets is encouraged. It is
provided with the terms determined on project basis.

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-Ship-Building Finance and Guarantee ProgramThe aim of this program is to
support Turkish dockyards to increase their share of international markets. Under this
program, Turkish companies involved in shipbuilding and/or exporting of ships will be
provided direct loans and/or Letters of Guarantee so that they may obtain pre-financing
either in advance or in installments from the buyer or they can buy supplies
& materials with payments having a fixed term. Upto 24 months and upto 85% of the
conract.
Under this program the bank provides with;Collateral needed *L/G from a private
Turkish bank *Treasury bills and government bonds *First-priority mortgage over the
vessel under construction
-Direct Loans to finance shipbuilding related to the specified contract.
-L/G consist of; Advance Payment Guarantee Letters guaranteeing the contract
cancelation by the sellers due to reasons stated in the contract and/or -Performance
Guarantee Letters guaranteeing the payment obligation up to the amount of goods
imported or bought by the seller domestically.
*To the buyers bank (as a Refund Guarantee for advance payments)
*To the buyer (as a Refund Guarantee for advance payments)
*To the suppliers bank (for L/C’s)
*To the supplier

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-Letter Of Guarantee Program for Overseas Contractors’ Services This non-cash
facility aims to enable Turkish contractors to sustain their current share in
international markets and thus encourage them to enter into new markets.
Within this program, Turkish overseas contractors who participate in tenders abroad
are provided letters of guarantee by Türk Eximbank under the counter-guarantee of
Turkish commercial banks. Under this program, Türk Eximbank issues a bid-bond,
performance-bond and advance guarantee letter through a bank or directly to cover
Turkish contractors responsibilities for the possible projects against the employer or
employer's bank.

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 EIB-Funded Investment Loan
This medium and long term investment facility has been made available by the
European Investment Bank aiming to increase the new investments together with
modernization and expansion projects in Turkey undertaken by Turkish export
oriented or foreign currency earning private sector enterprises in manufacturing,
logistics and tourism industries. The enterprises that have net fixed assets of less
than EUR 75 million and fewer than 500 employees are eligible for this loan. The
projects to be financed under this loan facility are expected to be in conformity with
the environmental regulations of Turkey and the EU..

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• International Transportation Marketing Credit Program
• Tourism Marketing Credit Program
• Credit Program For Foreign Currency Earning Services

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International Transportation Marketing Credit Program
This program aims to provide financing to international transportation companies to
increase their competitiveness and thus contribute to Turkey's foreign earnings. It is a
short and medium term financing facility provided directly by Türk Eximbank to
international transportation companies in order to reduce the transportation cost of
exporting companies. Companies that have a certificate of authority for international
transportation are eligible for this credit. The maximum repayment period is 18
months. The credit amount is 100% of freight to be realized in the credit period, but
cannot exceed the company limit. The company limit is limited to a maximum of 20%
of the freight revenue earned in the previous year, however the credit risk cannot
exceed USD 2 millions.

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 Tourism Marketing Credit Program
This program aims to provide financing to Turkish travel agencies and airline companies for
their promotional and marketing activities or services abroad and thus contribute to Turkey's
balance of payments via increasing tourism revenues. Travel agencies selected by
the Ministry of Tourism and private airlines that have obtained a working license from
the Ministry of Transportation and those that attract more than USD 500.000,- worth of
foreign currency to Turkey annually are eligible for this credit. The maximum repayment
period is 18 months. The amount of credit is limited to a maximum of 10% of the foreign
currency attracted by firms and 80% of the total expenditures of the proposed project, but it
cannot exceed USD 2 millions. But for the tour organizing travel agencies and airline
companies selected by the Ministry of Tourism, the maximum repayment period can exceed
18 months and the amount of credit is limited to a maximum amount of 15% of the foreign
currency earnings, but in any case cannot exceed USD 4 million.

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 Credit Program for Foreign Currency Earning Services
 This program is designated to support software design and development, project
design, consultancy services and project based services realized in foreign
countries of Turkish companies by providing short/medium term financing.
 The program aims to contribute to Turkey's foreign exchange earnings. Credits are
extended either in Turkish Liras or in foreign currency. Companies resident in
Turkey which engage in foreign currency earning services abroad or export of
services like software projects, consultancy services are eligible for this credit.

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 Türk Eximbank provides cover for Turkish Exporters, against commercial and
political risks by offering variety of insurance programs.
Like most of other officially supported export credit agencies, only political risks are
considered under the guarantee of the state, whereas losses due to commercial
risks are indemnified by Türk Eximbank from its own sources.
Insurance programs of Türk Eximbank are composed of two schemes: short-term
export credit insurance; and medium- and long-term export credit insurance.

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CCRREEDDIITT AAPPPPRROOVVAALL
CCRREEDDIITT
AALLLLOOCCAATTIIOONN
AAPPPPLLIICCAATTIIOONN
APPLICATIO
N
Credit Application Form
Company Information Form
Company Letter of
Undertaking
Written Consent
CCOOMMPPAANNYY
LLOOAANN EEXXTTEENNDDEEDD
REPAYME
NT
REPAYME
NT
CCOOMMMMEERRCCIIAALL BBAANNKK
BBRRAANNCCHH (lliinnee wwiitthh EExxiimm))
(rreessppoonnssiibbllee ffoorr tthhee rriisskk))

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1 2
MMAANNDDAATTOORRYY
3
4
Can the exporter give export
liability
YYEESS
Is able to
provide
collateral? YYEESS
The
application
is accepted
by the bank

34. 34
FFIINNAANNCCIIAALL AANNAALLYYSSIISS
CCRREEDDIITT AAPPPPRROOVVAALL
CCRREEDDIITT CCOOMMMMIITTTTEEEE CCRREEDDIITT AALLLLOOCCAATTIIOONN
(uussaannccee ooff ccrreeddiitt))
Credit Allocation Forms
General Loan Agreement, Company’s Letter of Undertaking,
Letter of Guarantee

35. CUSTOMS DECLARATION
FORMS ARE HANDED TO THE BANK
35
MMAATTUURRIITTYY
NNOOTTIIFFIICCAATTIIOONN
RREEPPLLYY TTOO
NNOOTTIIFFIICCAATTIIOONN
IINNDDEEMMNNIIFFIICCAATTIIOONN
OOFF TTHHEE LL//GG
CCOOMMMMIITTMMEENNTT
TTAAKKEESS PPLLAACCEE
NO
RREEPPAAYYMMEENNTT
RREETTUURRNN OOFF LL//GG
YES
NO
IN 30 DAYS THE
IINNDDEEMMNNIIFFIICCAATTIIOONN
OOFF TTHHEE LL//GG

36. 36
1
2 3
Does the company have the
characteristics of a SMEs? YYEESS
Can the
company
provide any
collateral?
Are the Terms of
Application
appropriate ?
YYEESS
Document
s of the
company
is
accepted
for
analysis
1
4
5
Approval of
Credit
Committee
If the utilization of
the credit is
approved, then the
6
company is informed
and the documents
are requested. The
documents have to
be complete. CCrreeddiitt EExxtteennddeedd
FINANCIAL
ANALYSIS

37. 37
YES YES
MMaayy tthhee bbaannkk
CCOOMMPPAANNYY rreecceeiivvee aannyy aavvaall
CREDIT
APPROVAL
AApppplliiccaattiioonn FFoorrmmss
aarree aacccceepptteedd
Ability to issue a Promissory
Note in favor of Türk
Eximbank ?
Promissory Note in TRY
maturing in 120 /180 days
will be taken to CBT by
Türk Eximbank for
discounting
TT..CC..MM..BB //CCBBTT
Promissory Note is
discounted and will be
transferred to the company

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 TTüürrkk EExxiimmbbaannkk aass ooff 22001122
 1155,,11 UUSSDD ((bbiilllliioonn)) SShhoorrtt--TTeerrmm CCrreeddiittss
 66,,99 UUSSDD ((bbiilllliioonn)) EExxppoorrtt CCrreeddiitt IInnssuurraannccee PPrrooggrraamm
TToottaall ssuuppppoorrtt ttoo ccoouunnttrryy’’ss eexxppoorrtt 2222,,00 UUSSDD ((bbiilllliioonn))
 TThhiiss iiss aammoouunntt ccoorrrreessppoonnddss ttoo 1144,,5500 %% ooff TTuurrkkeeyy’’ss
eexxppoorrttss
 TTuurrkkeeyy’’ss eexxppoorrtt vvoolluummee aass ooff 22001122 iiss UUSSDD..115511,,99 bbiilllliioonn

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 Türk Eximbank's Equity;;
 Capital inflow,
 Domestic banks,
 Euro-syndicated loans,
 Issuance of bonds and bank bills,
 International financial institutions
 The bank’s paid-in capital is 2 billion TRY

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(www.eximbank.gov.tr))