Manufacturing Industry Employment Protection Program: 100 Billion Lira Support Package Announced

Manufacturing Industry Employment Protection Program Launched Minister of Industry and Technology Mehmet Fatih Kacır and Minister of Labor and Social Security Vedat Işıkhan have announced the details of the "Manufacturing Industry Employment Protection Program," designed to prevent labor loss and maintain production capacity in the manufacturing sector.
The program, which encompasses a total resource of 100 billion liras, specifically targets businesses in labor-intensive sectors.
Minister of Labor and Social Security Vedat Işıkhan stated that approximately 51 billion liras will be transferred to the sector through the Unemployment Insurance Fund for this purpose.
The project is expected to secure employment for a total of 1.1 million people.
Loan Conditions and KOSGEB Contribution Regarding the financing aspect of the package, SMEs and large-scale firms will be able to access loans of up to 50 million liras, proportional to their one-month employment costs.
The loan conditions have been determined as follows: Maturity period: A total of 36 months, with a 6-month grace period on principal payments.
Annual financing cost: 33 percent.
KOSGEB support: For SMEs meeting the criteria, 10 percentage points of the cost will be covered, reducing the interest burden to 23 percent.
Applications Start March 2nd Applications for the program, announced with the participation of manufacturing industry representatives, will begin on March 2nd.
The process will be conducted through banks that have signed protocols, and the allocated resources will be made available quickly following credit evaluations.
The program aims to contribute to production continuity and economic stability in the manufacturing sector.