ICBC provides $400 million loan to Development Bank of Turkey (TKYB) for on-lending activities in 2018

$400M USD

Funder	Industrial and Commercial Bank of China (ICBC)
Recipient Organization	Turkiye Kalkinma ve Yatirim Bankasi A.S. (TKYB)
Country	Turkey
Start Date	Jun 26, 2018
End Date	Jun 09, 2026
Duration	2,905 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`96078`

Grant Description

ICBC provides $400 million loan to Development Bank of Turkey (TKYB) for on-lending activities in 2018 On June 26, 2018, the Industrial and Commercial Bank of China and Turkiye Kalkinma ve Yatirim Bankasi A.S. (TKYB) -- a Turkish state-owned development and investment bank — signed a $400 million inter-bank loan agreement.

The borrower is expected to use the loan proceeds for on-lending activities.

📚 Sources & References

TKYB cooperates with international organizations and institutions which support the development of Türkiye’s core industries., 2018 YILI FAALİYET RAPORU
TKYB cooperates with international organizations and institutions which support the development of Türkiye's core industries
HISTORY
STATUS AND CAPITAL STRUCTURE
Sustainability Report 2019
DRS Official Commitments from China Through 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.