SSB’s Loan Support Increasing for Defense Industry Investments

The protocols regarding the loan supports, which were applied for in 2020 within the scope of the Defense Industry Investment and Development Activities Support Program carried out by the Presidency of Defense Industries (SSB), were signed at the IDEF'21 Fair. SSB President Prof. İsmail Demir and the representatives of 19 companies that received loan support attended the signing ceremony.

SSB President Demir reminded that within the scope of the Defense Industry Investment and Development Activities Support Program, they provided maximum 10-year loans to support the investments and exports of domestic industrial organizations operating in the defense and aerospace industry. Stating that they signed a loan protocol worth TRY 90 million with 14 companies in 2019, Demir said, “We will sign a loan protocol worth TRY 140 million with 19 companies today, in consequence of the applications made in 2020. Thus, we will provide a loan worth TRY 230 million to 33 companies.”

Expressing that 37 companies have applied for a loan for 2021, Demir said, “Applications will be finalized by the end of the year, and a loan support will be provided to eligible companies to be determined by the Loan Commission. This year, we gave priority to advanced material technologies, robotic/autonomous systems, electronic warfare, detection technologies, cyber security, artificial intelligence, electronics/avionics, weapons/ammunition, rocket and missile systems, CBRN, semiconductor production and composite technologies. We also prioritized investments to be made in HAB Organized Industrial Zone in Ankara. These supports are the steps we have taken to expand the base of our defense industry ecosystem, to provide opportunities for new players, and to encourage investors in new technologies.”