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ICBC provides $250 million loan to Turk Eximbank for medium- and long-term financing purposes
| Funder | ICBC Turkey Bank A.Ş. |
|---|---|
| Recipient Organization | Export Credit Bank of Turkey (Turk Eximbank) |
| Country | Turkey |
| Start Date | May 23, 2017 |
| End Date | Aug 23, 2028 |
| Duration | 4,110 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 73193 |
Grant Description
ICBC provides $250 million loan to Turk Eximbank for medium- and long-term financing purposes On May 23, 2017, ICBC Turkey A.Ş. — a Turkish subsidiary of the Industrial and Commercial Bank of China (ICBC) — issued a $250 million loan to Export Credit Bank of Turkey (Türk Eximbank) for medium- and long-term export credit financing purposes.
Turk Eximbank repaid the loan to ICBC in two parts: $125 million on December 26, 2018 and $125 million on December 27, 2018.
Staff Comments
1. The Export Credit Bank of Turkey (Türk Eximbank) is a fully state-owned bank acting as the Turkish government's major export incentive vehicle in Turkey's sustainable export strategy.
Sources & References
- Annual Report
- Eximbank annual report
- YÖNETİM KURULUNUN YILLIK FAALİYET RAPORUNA İLİŞKİN BAĞIMSIZ DENETÇİ RAPORU
- ICBC Turkey Bank A.Ş. 5th Anniversary 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.
All Grantees
Export Credit Bank of Turkey (Turk Eximbank)
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