Turkey's PM announces good news for students, farmers

Premier Recep Tayyip Erdogan announced interest rate reductions for farmers and raise to student loans and scholarships as the year draws to an end.

Erdogan, during the last group meeting of Justice and Development Part at the parliament Tuesday, said the government would reduce the interest rates on agricultural loans provided to farmers by Ziraat Bankasi from 13 to 10%. He said the treasury would continue providing the 100% interest support in husbandry and irrigation loans to farmers, and increase the interest support from 25% to 50% all other agricultural loans.

Erdogan also said they would raise the scholarship, student loans and student food allowances by 20%.

He said monthly loans provided to undergraduate students would be raised from 200 to 240 TL, loans for graduate students from 400 to 480 TL and loans for post graduate students from 600 to 720 TL. (one TL equals 0.645 USD).

He said the conditional-allowance granted to poor families provided that their children are enrolled in schools would also be raised.


/World Bulletin/