Four Turkish private lenders and participation banks – IsBank, Akbank, Ziraat Katilim, and Vakif Katilim – on Monday announced packages to support economic activities in Turkey, following the recommendations of the Turkish Banking Association (TBB) to tackle the effects of the coronavirus pandemic.

The association has recommended easing credit access and providing flexibility to all lenders for customers “who need additional loans due to a provisional disruption in their revenues-expenses balance, have difficulty in the timely repayment of their liabilities, and intend to repay their debt on time.”

Economists stressed that with the contribution of all private sector banks

Read more: Turkey: Private banks pledge support in face of virus