In a significant move to empower women in the business world, Prime Minister Ünal Üstel has announced a new 300 million Turkish Lira (TL) credit package aimed at supporting women entrepreneurs in the Turkish Republic of Northern Cyprus (TRNC).
Under this initiative, women entrepreneurs will be able to access loans of up to 750,000 TL with a fixed interest rate and a six-month repayment grace period.
Prime Minister Üstel highlighted that the development of a country depends on the value placed on the dreams of its youth and the productive power of its women.
Prime Minister Ünal Üstel on Tuesday revealed the details of the “Women Entrepreneurs Credit Package,” which amounts to a total of 300 million TL.
According to the statement from the Prime Ministry, Üstel noted that since coming to power, the government has implemented numerous projects and initiatives aimed at directly impacting the lives of citizens across TRNC. Over the past three years, alongside infrastructure investments, the government has adopted policies that promote social justice, equality of opportunity, and production.
Üstel added that the government has consistently supported youth entrepreneurship, women’s labor, rural producers, and social responsibility projects, underscoring that this year has been dedicated to women and youth.
He pointed out that supporting women in economic activities would significantly contribute to TRNC’s development.
For the first time in history, the government has also provided full premium support for female employees, further solidifying its commitment to women’s economic empowerment. The newly introduced credit package aims to make it easier for women to access financial resources, promoting their independence and encouraging greater participation in the economy.
Under the scheme, which is available to businesses established by women after January 1st, the credit limit for each business is 750,000 TL, with a fixed monthly interest rate of 1.75% and an annual rate of 21%. Importantly, the credit package includes no additional fees or commissions, and the credit transactions are exempt from stamp duty, reducing financial barriers for women entrepreneurs.
Women entrepreneurs interested in benefiting from this scheme can apply to any of the designated banks starting today.
Prime Minister Üstel expressed his belief in the hard work and determination of women in TRNC, urging all women entrepreneurs to take advantage of this new opportunity. He concluded by expressing hope that the program would contribute both to individual success stories and the broader economic development of the country. BRT
