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Financing of Agricultural Msmes in Turkeyturkey:::: Field Research Report

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Financing of Agricultural Msmes in Turkeyturkey:::: Field Research Report This Programme is financed by the European Union. Turkey MSME Lending Programme Financing of Agricultural MSMEs in TurkeyTurkey:::: Field Research Report January 2017 This study was conducted within the framework of Turkey MSME Lending Programme. Turkey MSME LEnding Programme is financed by the European Bank for Reconstruction and Development (EBRD). The technical assistance component of the programme is funded by U.S. Agency for International Development (USAID) in Phase I (November 2010 – April 2012) and the European Union in Phase II (May 2012 – October 2013), Phase III (November 2013 – October 2015) and Phase IV (March 2016 – May 2017). Technical assistance services within the framework of the programme are delivered by Frankfurt School of Finance and Management. This study has been produced with the financial assistance of the European Commission. The contents of this study are the sole responsibility of Frankfurt School of Finance & Management and can in no way be taken to reflect the views of the European Union or European Commission. Authors: Emine Burcu Cebeci Ömer Faruk Demirhan Cansu Karatay Erdal Kocoglu Frankfurt School of Finance & Management Mustafa Kemal Mah. 2124. Cadde Edige Plaza No: 15 D: 3&4 Cankaya Ankara Tel. +90 312 467 44 77 Fax +90 312 467 44 76 [email protected] http://www.frankfurt-school.de Financing of Agricultural MSMEs in Turkey: Field Research Report Page 2 EBRD Turkey MSME Lending Programme Table of Content 1. Objective and Methodology of the Survey .................................................................................................. 6 1.1. Objective .......................................................................................................................................... 6 1.2. Methodology .................................................................................................................................... 6 2. Results and Analysis of the Survey ............................................................................................................. 7 2.1. Demographic Information ................................................................................................................. 7 2.1.1. Age .......................................................................................................................................... 7 2.1.2. Level of Education .................................................................................................................... 7 2.1.3. Non-Agricultural Income/Activity ............................................................................................... 8 2.1.4. Geographical Distribution ......................................................................................................... 8 2.1.5. Agricultural Activity .................................................................................................................. 9 2.2. Access to Finance ............................................................................................................................. 9 2.2.1. Source of Financing .................................................................................................................. 9 2.2.2. Input Purchase ....................................................................................................................... 11 2.2.3. Bank Preference ..................................................................................................................... 12 2.2.4. Sufficiency of Loan Amount Received ...................................................................................... 15 2.2.5. Usage of Agricultural Credit Card ........................................................................................... 15 2.2.6. Expectations from Banks......................................................................................................... 17 2.2.7. Investment Plans in Close Future ............................................................................................ 19 2.2.8. Problems of Turkish Agriculture Sector .................................................................................... 20 3. Conclusion .............................................................................................................................................. 22 Financing of Agricultural MSMEs in Turkey: Field Research Report Page 3 EBRD Turkey MSME Lending Programme List of Charts Chart 1: Age distribution of field survey participants........................................................................................... 7 Chart 2: Field survey participants level of education ........................................................................................... 8 Chart 3: Availability of non-agriculture income or activity ................................................................................... 8 Chart 4: Regional distribution of the participants ............................................................................................... 9 Chart 5: Agriculture activities of participants ...................................................................................................... 9 Chart 6: Resource to finance agricultural activity .............................................................................................. 10 Chart 7: Agricultural input supply conditions .................................................................................................... 11 Chart 8: Input purchase conditions of farmers using agricultural credit cards..................................................... 12 Chart 9: Input purchase conditions of farmers that are not using agricultural credit cards .................................. 12 Chart 10: Bank loan usage in the last 3 years .................................................................................................. 13 Chart 11: Banks’ shares in lending to survey respondents ................................................................................. 13 Chart 12: Number of banks used by respondents to get agricultural loans ........................................................ 14 Chart 13: Agricultural loan customer acquisition by banks (penetration rate) .................................................... 14 Chart 14: The sufficiency of bank loan that the respondents received in the last 3 years .................................... 15 Chart 15: “Do you use an agricultural credit card actively?” ............................................................................. 15 Chart 16: Agricultural credit card market shares of banks ................................................................................. 16 Chart 17: Agricultural credit card market share (penetration) ............................................................................ 16 Chart 18: Expectations of farmers from banks .................................................................................................. 17 Chart 19: Future plans of farmers .................................................................................................................... 19 Chart 20: The most important problems of Turkish agriculture sector ................................................................ 20 Chart 21: Selected inflation and price index graphs .......................................................................................... 21 Financing of Agricultural MSMEs in Turkey: Field Research Report Page 4 EBRD Turkey MSME Lending Programme Abbreviations : Baking Regulation and Supervision Agency BRSA : The Central Bank of the Republic of Turkey CBRT : the European Bank for Reconstruction and Development EBRD : European Union EU : Farmer Registry System FRS : International Finance Corporation IFC : Credit Registry Bureau KKB : Micro, Small and Medium Sized Enterprise MSME : Small and Medium Sized Enterprise SME : Technical Assistance TA : Agricultural Loan Evaluation System TARDES : Turk Ekonomi Bank TEB : Yapi Kredi Bank YKB Financing of Agricultural MSMEs in Turkey: Field Research Report Page 5 EBRD Turkey MSME Lending Programme 1.1.1. Objective and MMMethodMethodethodologyology of the Survey 1.1. Objective Launched in November 2010, EBRD’s Micro, Small and Medium Sized Enterprises (MSME) Lending Programme aims at extending medium and long term funding to Turkish banks to support Turkish MSMEs’ access to finance. The technical assistance component of the programme is designed to enhance the technical capacity of EBRD’s partner commercial banks to disburse sub-loans to agricultural MSMEs in a better and well-structured banking practice. The first field survey under the TA programme was conducted in 2011 to understand the needs and demands of Turkish agricultural MSMEs in terms of access to finance and banking services. Before the completion of the loan programme in April 2017, the consultants target to measure its impacts on the agricultural sector and the opportunities for access to finance. This “Financing of Agricultural MSMEs in Turkey: Field Research”, carried out by Frankfurt School of Finance & Management, examines the basic financing problems of micro, small and medium sized agricultural farmers, the conditions in access to finance and expectations of the farmers from the banking sector. The survey also tries to explore the Turkish agricultural producers’ future investments in the sector. This report presents the findings of the field research and summarizes the main outcomes. The results of the study will
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