Banks may be drowned in Denizli

       Denizli, which had been ranked as an "underdeveloped" city in a list by the State Planning Board in late 1970s, had created a miracle by blending its initiative power with incitements. The "Denizli miracle" can be summarized as such: "Exports that topped $1. 5 billion, 4,500 companies that exported to 40 countries and an investment that reach $400 million.
       Denizlian businessmen, who account for 20% of th overall exports of Turkey, had two big problems tw years ago: Lack of infrastructure and workers. But the outlook in Denizli is now very different from those times when unemployment didn't usually last longer than going to the next factory on foot.
       Denizli has no problems like failing to find a market to sell its goods. The city is familiar in five continents. Best towels are the world is being produced here. Only problem of the city is that it can't export its products. Banks, which poured money into the region in 1997, now withdrew all their support. Loan rates have climbed to some 25%, up from 6% two years ago. Businessmen complain that banks don't hand out credits to even to rich companies.