ICBC Turkey provides $130 million loan to Yapi Kredi for foreign trade financing and refinancing purposes

$130M USD

Funder	ICBC Turkey Bank A.Ş.
Recipient Organization	Yapı ve Kredi Bankası A.Ş. (Yapı Kredi)
Country	Turkey
Start Date	Jul 01, 2021
End Date	Jul 01, 2026
Duration	1,826 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`95244`

Grant Description

ICBC Turkey provides $130 million loan to Yapi Kredi for foreign trade financing and refinancing purposes On July 1, 2021, Yapi Kredi obtained a $130 million, 2-year loan from the Industrial and Commercial Bank of China (ICBC). ICBC Turkey Bank acted as a representative of ICBC in the agreement, and ICBC Turkey Yatırım acted as the regulator.

Yapı Kredi reportedly will use the loan proceeds for the financing and refinancing of foreign trade.

📋 Staff Comments

1. Yapı Kredi is one of the first nationwide commercial banks in Turkey, and is the fourth largest publicly owned bank in Turkey by its asset size. It was established in 1944 by Kazım Taşkent.

📚 Sources & References

Turkey’s Yapi Kredi Bank obtains $ 130mn 2-year loan from China’s ICBC
Yapı Kredi ile ICBC kredi anlaşması yaptı, 2021 FAALİYET RAPORU
ICBC Turkey Sürdürülebilirlik Raporu 2021 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.