The Competitiveness of Enterprises and SMEs Programme (COSME) that nationally coordinated by KOSGEB, will provide approximately 3 billion TL to SMEs.
Date: 27 May 2019

Date: 12 April 2019

The Competitiveness of Enterprises and SMEs Programme (COSME) that nationally coordinated by KOSGEB, will provide approximately 3 billion TL to SMEs through this programme. KOSGEB played an encouraging and guiding role for the credit to be utilized through the Credit Guarantee Fund (KGF).

KOSGEB was authorized in 2013

KOSGEB Executive Committee has authorized KOSGEB as a national coordinating organization for the COSME Programme at the meeting held on 4 June 2013. COSME Programme Participation Agreement between Turkey and the European Commission has been signed in Brussels on
16 October 2014. The COSME Programme was implemented with a budget of approximately
2.3 billion Euros for the years 2014-2020.

Access to Finance

The program which aims to increase the competitiveness of SMEs consists of the components “Access to Finance”, “Access to Markets”, “Framework for Enterprises” and “Entrepreneurship and Entrepreneurial Culture”. Under the Access to Finance component, it is aimed that SMEs will reach credit guarantees and venture capital, which provide flexible and easy access to credit guarantees.

60 Month Term Credits

KGF applied to Credit Guarantee Support within the scope of COSME Programme, which is nationally coordinated by KOSGEB. As a result of the application, a counter-guarantee agreement was signed with the European Investment Fund.

With the guarantee support to be provided according to the agreement, each SME will be able to use a credit of up to 1 million liras with a term of 60 months with a guarantee period of 12 months. With this project, SMEs are expected to use approximately 3 Billion TL.

Agreement with 16 Banks

Meetings and the protocol processes with the banks for the use of funds of the KGF still continue and agreements were signed with these 16 banks: Akbank, Alternatif Bank, Denizbank, Garanti Bank, Halkbank, ING Bank, Turkey Business Bank, QNB, Finansbank, Sekerbank, Turkey Economy Bank, Turkey Finans Participation Bank, Vakıfbank Foundations Participation Bank, Yapi Kredi Bankasi, Ziraat Bank and Ziraat Participation Bank.