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ICBC Turkey provides EUR 200 million loan to Türk Eximbank for on-lending purposes in 2020
| Funder | ICBC Turkey Bank A.Ş. |
|---|---|
| Recipient Organization | Export Credit Bank of Turkey (Turk Eximbank) |
| Country | Turkey |
| Start Date | Nov 26, 2020 |
| End Date | Feb 28, 2027 |
| Duration | 2,285 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 92648 |
Grant Description
ICBC Turkey provides EUR 200 million loan to Türk Eximbank for on-lending purposes in 2020 On November 26, 2020, Industrial and Commercial Bank of China Turkey (ICBC Turkey) and the Export Credit Bank of Turkey (T.İhracat Kredi Bankası, Türk Eximbank) signed a EUR 200 million loan agreement.
According to media sources, the loan is intended to support export financing.
Export Credit Bank of Turkey (Türk Eximbank), which was established in 1987, is the official export credit agency in Turkey.
It is a fully state-owned bank acting as the Turkish government’s major export incentive vehicle in Turkey’s sustainable export strategy.
As Turkey’s official export credit agency, Türk Eximbank has been mandated to support foreign trade and Turkish contractors/investors operating overseas.
Sources & References
- Turkish banks, firms secure nearly $7B financing in 2nd half of year, 2020 Annual Report
- Turk Eximbank
- ICBC Turkey ink $237.9M loan agreement 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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