Tourism sector to get loans easier
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Oluşturulma Tarihi: Ocak 24, 2009 00:00
ISTANBUL - With a new agreement signedThursday between the Turkish Hotels Federation, or TÜROFED, and İşbank, companies operating in the tourism industry will have easier access to bank loans.
Last year, İşbank provided 800 million Turkish Liras in cash loans to the tourism industry, according to Ersin Özince, chief executive officer of İşbank, who is also the board chairman of the Banks Association of Turkey, or TBB. Accommodation facilities for travelers and tourists received 300 million liras from that total, he added.
Through this new protocol small- and medium-size tourism companies will be able to borrow funds easier. "While the commission fee for loans provided to the industry is 2 percent, these smaller operators will obtain loans that have a 1 percent commission fee." The global turmoil has had less of an impact on Turkey’s tourism industry compared to other countries, said Ahmet Barut, chairman of TÜROFED. Players in the industry, however, have faced financing troubles for the past three to four months, he added.
Through this new protocol small- and medium-size tourism companies will be able to borrow funds easier. "While the commission fee for loans provided to the industry is 2 percent, these smaller operators will obtain loans that have a 1 percent commission fee." The global turmoil has had less of an impact on Turkey’s tourism industry compared to other countries, said Ahmet Barut, chairman of TÜROFED. Players in the industry, however, have faced financing troubles for the past three to four months, he added.