9.000 Turkish growers to use loans for greenhouse construction

Turkey Ministry of Finance and Treasury Berat Albayrak informed the press that they are expecting the value of bank loans for greenhouse production and modernization which were provided by the state bank Ziraat Bank, to reach 400 million USD by the end of the year.

Minister Albayrak: “We will continue to fulfill the financing needs of our growers in agricultural production through best financing models. The value of agricultural bank loans provided between February and July of 2019 tripled the- value of agricultural bank loans provided in the last 3 years. As a part of this program, greenhouses are being built in 47 cities across Turkey. Growers in Afyonkarahisar, Burdur, Aydin, Ankara, Konya, Usak, Balikesir, Denizli, and Kayseri have received 35 % of the banks' loans. Strategically, these are very important steps to further the development of agricultural production in our country and to improve our position in the world. Greenhouses being constructed with the bank loans are right now over 1.600 hectares and the most popular products preferred by our growers to grow in these greenhouses are tomato, banana and green pepper. We predict that tomato production will increase by 5% whereas banana production will rise up by 15 %. We also believe that green pepper production will also go up by 2%. So far 8.993 growers have benefitted from bank loans.” The government is hoping that these investments will not only improve annual agricultural production of the country but also lower the price fluctuations of fresh produce throughout the year.

Sources: Haberler / Bursada Bugun

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