Turkey announces $4.9B financing for strategic sectors

By Gokhan Ergocun and Tuba Sahin

ISTANBUL/ANKARA (AA) - Turkey will provide a 30-billion-Turkish lira ($4.9-billion) financing package for sectors which have export potential but are riddled with foreign trade deficit and high import dependency, the finance minister said Thursday.

The new finance package named "IVME" (advanced, productive, indigenous, industry) will target sectors which have four main features, Berat Albayrak said.

The package will prioritize medium-high-technology and high-technology products and sectors, the minister underlined, with the provision of raw material, intermediate goods, machinery and agriculture, he added.

"We will adopt a model of prioritizing export based, value-added, technologic product manufacturing," Albayrak said.