Esin Attorney Partnership, a member firm of Baker & McKenzie International, has long been a leading provider of legal services in the Turkish market. We have a total of nearly 140 staff, including over 90 lawyers, serving some of the largest Turkish and multinational corporations. Our clients benefit from on-the-ground assistance that reflects a deep understanding of the country's legal, regulatory and commercial practices, while also having access to the full-service, international and foreign law advice of the world's leading global law firm.
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In a Council of Ministers decision published June 24, Turkey raised the upper limit on the amount of guarantees which Kredi Garanti Fonu A.Ş. (the "Credit Guarantee Fund" or "KGF") can grant to support certain types of loans under the Council of Ministers' earlier Decision on the Procedures and Principles for Treasury Support Provided to Credit Guarantee Institutions.
In a Council of Ministers decision published June 24, Turkey
raised the upper limit on the amount of guarantees which Kredi
Garanti Fonu A.Ş. (the "Credit Guarantee Fund" or
"KGF") can grant to support certain types of loans under
the Council of Ministers' earlier Decision on the Procedures
and Principles for Treasury Support Provided to Credit Guarantee
Institutions.
The Turkish Treasury funds KGF to provide credit guarantees for
loans to:
Small and medium-sized enterprises (SMEs) and women
entrepreneurs operating SMEs.
Travel agencies that have brought at least 400,000 tourists to
Turkey from Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Russia,
Turkmenistan, Ukraine and Uzbekistan in the prior year.
Turkish enterprises engaged in shipbuilding as confirmed by the
Ministry of Transportation, Maritime Affairs and
Communications.
The new decision increases the limit on total KGF guarantees
from TRY 10 billion to TRY 15 billion, and the limit for guarantees
in the shipbuilding industry from TRY 2 billion to TRY 5
billion.
The new decision also raises the maximum amount the Treasury
will provide to KGF from TRY 1 billion to TRY 2 billion.
Please do not hesitate to contact us should you have any
questions about how these changes might affect your company.
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about your specific circumstances.
