25-03-2020 13:53:37

“Turkish small, medium enterprises given economic support by Industry and Technology Ministry”

The Industry and Technology Minister Mustafa Varank announced support for the country's small and medium enterprises (SMEs) against the effects of coronavirus pandemic.

The ministry said in a statement that SMEs Development Organization of Turkey (KOSGEB) loans were postponed for three months, and it gave an additional four months for their projects.

The ministry also said SMEs, which produce medical protective goods, will be given additional support.

Mustafa Varank, the industry and technology minister, said: "Our enterprises which manufacture products such as disinfectants, protective clothing, glasses, masks and gloves with domestic sources, will be able to benefit from KOSGEB's TEKNOYATIRIM [technologic investment] Support Program."

KOSGEB will provide support up to 6 million Turkish liras (some $940,000) for these projects. 4.2 million liras ($657,000) of this amount will be loan.

Varank said with its supports, the ministry will contribute to manufacturing these products, of which demand rose after the COVID-19 outbreak.

The minister also said firms in Turkey's technoparks (technology development zones) will not pay rent for two months.

Some 5,682 firms, which employs 58,241 personnel, are active in technoparks, he reminded.

Turkey has so far 1,872 confirmed cases of coronavirus pandemic, with the death toll at 44, according to the Health Ministry.