Turkish Export Credit Bank

Turk Eximbank, established in 1987, is a state-supported export finance institution that provides financial support to exporters in Türkiye. The bank offers credit, insurance and guarantee programs aimed at promoting exports, encouraging foreign trade and enhancing the competitiveness of Turkish products in international markets. In addition to providing direct financing to exporters, Turk Eximbank also serves the sector through insurance and guarantee systems that reduce the risks of international trade. Turk Eximbank not only provides financing exclusively for exporters but also contributes to funding international projects that support Türkiye’s economic openness.

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In the early 1980s, Türkiye abandoned import substitution policies and adopted outward-oriented economic policies, necessitating measures to promote exports. During this period, Turk Eximbank was established to finance foreign trade. The bank began operations in 1987 and by 1988 had developed various programs to meet exporters’ financing needs. Turk Eximbank provided financial infrastructure to strengthen Türkiye’s foreign trade and increase domestic production, aiming to reduce the country’s external dependency.

From 1988 onward, Turk Eximbank assumed a significant role in export financing. In line with agreements Türkiye signed under the GATT framework, tax rebate mechanisms were discontinued and indirect incentive measures gained prominence. Turk Eximbank aimed to fill a critical gap in export promotion and by 1989 supported 20 percent of Türkiye’s exports, significantly increasing its influence within the foreign trade system. That same year, new programs such as the Pre-Shipment Export Credit Program provided exporters with additional financial support. In 1990, Turk Eximbank was named “Export Bank of the Year” by Euromoney and received international recognition for its performance during crisis periods.

In 1991, Turk Eximbank applied for membership in the BERNE UNION, the international federation of export credit and investment insurance agencies, and its application was accepted. The opening of the İzmir Liaison Office and the provision of a syndicated credit of 150 million dollars without treasury guarantee were significant developments that enhanced the bank’s international effectiveness. 1994 marked a turning point for Turk Eximbank, as it introduced new credit programs such as the Priority Regions Export Credit and the First Step Export Credit to support small and medium-sized enterprises.

In 1996, Turk Eximbank launched new initiatives to support small and medium-sized enterprises and restructured its credit offerings to diversify exports. In 1997, the bank celebrated its 10th anniversary and ranked among the top 25 similar institutions worldwide. Although 1998 was marked by the Asian financial crisis, Turk Eximbank provided substantial credit support to the sector, offering exporters critical assurance during the crisis.

In 2001, Turk Eximbank developed new strategies to increase trade with neighboring countries and implemented three new credit programs in 2002. During this period, total financial support provided to the export sector increased significantly. In 2005, Turk Eximbank lowered interest rates and extended credit terms to provide exporters with more favorable financing conditions in support of Türkiye’s export growth.

On its 20th anniversary, Turk Eximbank underwent a major transition in export financing, shifting from short-term to medium- and long-term financing. During the global crisis, it played a major role by providing $9.4 billion in support to exporters. In 2010, in line with Türkiye’s goal of achieving $50 billion in exports, Turk Eximbank provided $8.9 billion in credit support.

In 2011, Turk Eximbank implemented various reforms to provide closer services to exporters and introduced new simplifications in credit applications. In 2012, the bank increased its credit and insurance support to the export sector by 77 percent, reaching $22 billion. Between 2014 and 2015, Turk Eximbank continued to play a vital role in Türkiye’s foreign trade through its support to exporters.

In 2016, Turk Eximbank began managing environmental and social risks in line with sustainability principles and launched an investment credit program based on Participation Finance System principles in 2020. In 2018, it initiated a branch expansion process to deliver services closer to exporters. During this period, the financial support provided by Turk Eximbank to exporters increased substantially.

While offering cost-effective financing tools to exporting firms, Turk Eximbank also implements “International Credit and Guarantee” programs designed to strengthen economic and political relations beyond Türkiye’s borders. The bank insures not only short-term export receivables but also medium- and long-term export services, providing assurance for Türkiye’s foreign trade activities. The credit and insurance opportunities offered by Turk Eximbank benefit exporters in both the manufacturing and service sectors, enhancing Türkiye’s competitiveness in global trade.

Turk Eximbank has developed various strategies to increase Türkiye’s foreign trade. Its core objectives include diversifying exports, accessing new markets and enhancing exporters’ international competitiveness. Additionally, through the credit and insurance opportunities it provides to the sector, Turk Eximbank enables Turkish exporters to achieve broader global market penetration.

Turk Eximbank offers its financing opportunities to exporters in the form of short-, medium- and long-term credits, setting flexible credit terms according to exporters’ specific needs. The bank prioritizes small and medium-sized enterprises (SMEs), enabling them to participate in foreign trade through lower interest rates and favorable payment conditions. Additionally, the bank facilitates financing for international projects to promote Türkiye’s trade abroad.

Turk Eximbank is a public institution under the Ministry of Treasury and Finance of the Republic of Türkiye, with its entire capital owned by the Treasury. The bank has adopted the Registered Capital System in accordance with Law No. 6102 on the Turkish Commercial Code. Its board of directors, chaired by the Minister of Treasury and Finance, includes representatives from various ministries. The board sets annual targets, determines limits for credit, guarantee and insurance programs targeting exporters, and oversees their implementation.

In addition to providing financing opportunities to exporters, Turk Eximbank implements reforms aimed at fostering the development of small and medium-sized enterprises. Reducing interest rates and improving credit terms for SMEs supports the bank’s goal of promoting sustainable export growth. The bank also encourages the export of high-value-added products and diversifies exports through credit and insurance programs that target geographic expansion, thereby improving the balance of Türkiye’s foreign trade.