ISTANBUL

Turkish state lenders — Ziraat, VakifBank and Halkbank — announced packages for supporting economic activities in Turkey, following the recommendations of the Turkish Banking Association (TBB) to tackle the effects of COVID-19 pandemic.

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

Three banks said in separate statements that they will postpone loans of individuals and firms and also provide flexibility to their

Read more: Turkey: State lenders support economy amid COVID-19