Export credit agencies

Cooperation between Greece and China on shipping finance is set to receive a boost after a conference held at the major Greek port of Piraeus on Wednesday.

The export credit agencies of Sweden and Turkey inked an agreement to provide insurance for firms which jointly undertake projects in third countries, Turk Eximbank said on May 17.

"Negotiations regarding the deal between Turk Eximbank and the Swedish Export Credit Agency (EKN) has been completed and entered into force," the statement read.

Turk Eximbank aims to increase its export support by 11% year-on-year to over $50 billion in 2021, the Turkish trade minister said on Feb. 5. 

Speaking at Turk Eximbank 2020 Operating Results and 2021 Targets Meeting, Ruhsar Pekcan said the bank's export support rate is projected to rise to 27.7% this year.

The World Bank's Board of Executive Directors has approved a partial credit guarantee in the amount of 250 million euros (around $273 million) to the Export Credit Bank of Turkey (Türk Eximbank) as part of the Turkey Long-Term Export Finance Guarantee Project, according to a statement.

The Turkish Wealth Fund (TWF) and China Export and Credit Insurance Corporation (Sinosure) have signed a Memorandum of Understanding (MoU) to promote bilateral economic, trade and investment cooperation.

Sinosure will consider providing support up to $5 billion with respect to the financing activities, according to a statement from TWF on March 26.

Türk Eximbank, Turkey's major export incentive instrument, on March 24 introduced a support package for exporters to mitigate the impact of the coronavirus pandemic.

The move aims for exporters to continue production and maintain employment as they see orders falling or being canceled due to virus fears.

The government allocated a total of 3.8 billion Turkish Liras (around $640 million) of financing to support exporters this year, Trade Minister Ruhsar Pekcan has said.

The amount of financing Turkey's Eximbank provided to local exporters increased by 4.4 percent to stand at $21.4 billion in the first six months of the year.

Vucic said he was expecting the construction of the corridor to begin as soon as possible - as early as Q3 2019, by which time the project documentation and expropriation must be completed, Tanjug is reporting, citing an official statement.

Serbia is negotiating a $400 million loan from Turkey's Exim Bank to develop infrastructure it needs to spur investments and growth, Serbia's trade minister said on March 20.