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    Dispute delays Turkey credit fund

    Bloomberg
    21.04.2009 - 00:00 | Son Güncelleme: 20.04.2009 - 15:43

    ANKARA - Turkey is insisting that business groups contribute to a fund designed to guarantee lending to companies, delaying the establishment of the system, Vatan newspaper said, without saying how it got the information.

    Economy Minister Mehmet Şimşek wants the Turkish Union of Chambers and Bourses to pay into to a 2.5-billion Turkish Liras ($1.6 billion) fund that will guarantee bank lending to companies, the newspaper said. Without other sources, the Treasury is only prepared to put 1 billion liras into the fund, Vatan said.
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