Active Mixed AidData Chinese Aid

China Eximbank pledges $100 million loan to Garanti BBVA to promote trade between Turkey and China

$100M USD

Funder	Export-Import Bank of China (China Eximbank)
Recipient Organization	Türkiye Garanti Bank BBVA
Country	Turkey
Start Date	Jun 25, 2009
End Date	Aug 05, 2027
Duration	6,615 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`67129`

Grant Description

China Eximbank pledges $100 million loan to Garanti BBVA to promote trade between Turkey and China On June 25, 2009, China Eximbank and Garanti BBVA (Turkey's second largest private bank) signed a framework agreement.

Under the terms of the agreement, the lender agreed in principle to allow Garanti BBVA to borrow up to $100 million to promote trade (imports and exports) between Turkish companies and China. It does not appear that any subsidiary loans were ever approved through this framework agreement.

📋 Staff Comments

According to the SinoTF source, this agreement was signed in addition to the IS Bank framework agreement for $100 million USD on the same day (captured in Project ID#67251).

📚 Sources & References

土耳其担保银行与中国进出口银行签金融贸易协议
进出口银行布局土耳其 4协议开启金融贸易新局
中国与土耳耳两国签署7份双边合作文件
President Gul signs seven cooperation agreements in China
Türkiye Garanti Bankası Anonim Şirketi And Its Financial Affiliates Consolidated Financial Statements As of and For the Six-Month Period Ended
Trade finance framework agreement with China Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.