Turkish Exporters Bank

Türk Eximbank is a state-supported export finance institution established in 1987 to provide financial support to exporters in Türkiye. Bank offers 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, Türk Eximbank also serves the sector through insurance and guarantee systems that reduce the risks of international trade. Türk Eximbank not only provides financing to 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 in favor of open economy policies, necessitating measures to promote exports. During this period, Türk 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. Türk Eximbank provided financial infrastructure to strengthen Türkiye’s foreign trade and increase domestic production, aiming to reduce the country’s external dependency.

From 1988, Türk Eximbank assumed a key role in export financing. In line with agreements signed under the GATT framework, Türkiye discontinued tax rebate schemes, shifting focus to indirect incentives. Türk Eximbank aimed to fill a critical gap in export promotion and supported 20 percent of Türkiye’s exports in 1989, significantly increasing its influence within the international export finance system. That same year, the Pre-shipment Export Credit Program was expanded with new initiatives to provide exporters with greater financial support. In 1990, Türk Eximbank was named “Export Bank of the Year” by Euromoney and received international recognition for its performance during periods of crisis.

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

In 1996, Türk 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 institutions of its kind worldwide. Although 1998 was a challenging year due to the impact of the Asia crisis, Türk Eximbank provided substantial credit support to the sector, offering exporters critical assurance during the crisis.

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

On its 20th anniversary, Türk 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, Eximbank provided $8.9 billion in credit support.

In 2011, Türk Eximbank implemented various reforms to offer exporters more close services 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, Eximbank continued to play a vital role in Türkiye’s foreign trade through its support to exporters.

In 2016, Türk Eximbank began managing environmental and social risks in accordance with sustainability principles and launched an investment credit program based on the principles of Finance finance in 2020. In 2018, it initiated a branch expansion process to bring services closer to exporters. During this period, the financial support provided by Türk Eximbank to exporters saw significant growth.

Türk Eximbank provides cost-effective financing instruments for exporting firms while also implementing “International Credit and Guarantee” programs aimed at strengthening economic and political relations beyond country. The bank extends insurance coverage not only to short-term export receivables but also to medium- and long-term export services, ensuring security for Türkiye’s foreign trade activities. The credit and insurance opportunities offered by Türk Eximbank support exporters in both the manufacturing and service sectors, enhancing Türkiye’s competitiveness in global trade.

Türk 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 facilities it provides to the sector, Eximbank enables Turkish exporters to achieve greater success in international markets and expand the global reach of Turkish products.

Türk Eximbank offers financing to exporters through short-, medium-, and long-term credit facilities, adjusting credit terms flexibly according to exporters’ needs. The bank prioritizes small and medium-sized enterprises (SMEs), enabling them to participate in foreign trade through lower interest rates and favorable repayment conditions. The bank also facilitates financing for international projects to promote Türkiye’s trade abroad.

Türk 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 under Law No. 6102 on the Turkish Commercial Code. Its Board of Directors, chaired by the Minister of Treasury and Finance, operates with representatives from various ministries and together. The Board sets annual targets, determines limits for credit, guarantee, and insurance programs for exporters, and implements these programs.

In addition to providing financing to exporters, Türk Eximbank implements reforms aimed at fostering the development of small and medium-sized enterprises. Reducing interest rates and improving term conditions for SME-focused credit programs serve the bank’s goal of supporting sustainable export growth. The bank also promotes the export of high-value-added products and diversifies exports through credit and insurance programs that encourage geographical expansion, thereby improving the balance of Türkiye’s foreign trade.