ECONOMY

Minister Albayrak announces $4.9B new finance package for strategic sectors

Turkish announced the new named "IVME" (advanced, productive, indigenous, industry) during a press conference on Thursday, and saying Turkey will provide a 30-billion-Turkish lira ($4.9-billion) financing package for sectors which have potential but are riddled with foreign trade deficit and high import dependency.

Turkey will provide a 30-billion-Turkish lira ($4.9-billion) financing package for sectors which have potential but are riddled with foreign trade deficit and high import dependency, the said Thursday.

The new named "IVME" (advanced, productive, indigenous, industry) will target sectors which have four main features, said.

The package will prioritize medium-high-technology and high-technology products and sectors, the minister underlined, with the provision of raw material, intermediate goods, machinery and agriculture, he added.

"We will adopt a model of prioritizing export based, value-added, manufacturing," Albayrak said.

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