The Turkish trade minister announced Monday that Türk Eximbank had provided financial resources – loans and insurance, amounting to $33.6 billion (TL 966.3 billion) for exporters this year.

"Türk Eximbank, Türkiye's largest export credit and credit insurance institution, provided a total of $33.6 billion support to our exporters as of the end of October 2023, including $15.1 billion of loan and $18.5 billion of insurance and guarantee," Ömer Bolat wrote on the social media platform X, formerly Twitter after a visit to the bank.

The meeting with Eximbank General Manager Ali Güney and his team addressed projects to ensure that the institution's support will further grow, Bolat added.

Focusing on enhancing exporters' access to resources, Treasury and Finance Minister Mehmet Şimşek announced earlier a plan for extending access to these resources as they have initiated a new initiative regarding Türk Eximbank loans.

"Türk Eximbank aims to address the financing challenges of companies engaged in value-added and high-tech exports by providing loans with different types of collateral, in addition to the letter of guarantee," he told an interview with Anadolu Agency (AA) last week.

Since Türk Eximbank was founded in 1987, it has conducted international credit, guarantee and credit insurance programs to develop economic and political relations between Türkiye and other countries.

Türkiye's exports increased 7.4% year-over-year to $22.9 billion, an all-time high for October, the data from the Trade Ministry showed earlier this month. The data said the country's overseas shipments rose by 0.3% annually to $210.1 billion between January and October.

Boosted by an upward momentum in exports registered in the past three months, the government eyes a year-end export target of $255 billion.