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Support package for urban transformation announced

Ministry of Treasury and Finance of Turkey announced the support package for urban transformation. 12 months in the package...

Support package for urban transformation announced
The package will provide financing with a total maturity of 48 months without payment for 12 months. Financing opportunities up to 1 million 250 thousand TL per person will be offered.
The support package for urban transformation has been announced.
According to the statement of the Ministry of Treasury and Finance of Turkey, the upper limit of credit per person was increased from 600 thousand TL to 1 million 250 thousand TL within the scope of the financing package. Up to 840 basis points of the financing cost will be covered by the Treasury.
SUPPORT TO HOUSING PRODUCER COMPANIES
In the urban transformation process, support will also be provided to housing producer companies. The compensation rate applied so far under the Treasury-backed surety system will be increased from 7 percent to 9 percent for this package.
12 MONTHS GRACE PERIOD
With the financing package, financing opportunities up to TL 250 million will be offered with a total maturity of 48 months without payment for 12 months. In this context, a bail limit of TL 50 billion was put into use.

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