Active Commercial AidData Chinese Aid

CDB provides RMB 3.5 billion loan to VakıfBank for on-lending, general financing, and foreign trade financing purposes

¥3.5M RMB

Funder	China Development Bank (CDB)
Recipient Organization	Türkiye Vakiflar Bankasi T.A.O. (VakıfBank)
Country	Turkey
Start Date	Dec 21, 2021
End Date	Oct 02, 2030
Duration	3,207 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`96139`

Grant Description

CDB provides RMB 3.5 billion loan to VakıfBank for on-lending, general financing, and foreign trade financing purposes On December 21, 2021, China Development Bank (CDB Corporation signed a RMB 3.5 billion loan agreement with VakıfBank — a Turkish state-owned bank — for on-lending purposes, general financing needs, and the financing of foreign trade.

📋 Loan / Grant Terms

💰 Loan Amountcarries a 3-year maturity and an unknown interest rate

📅 Maturity3 years

📋 Staff Comments

1. VakıfBank is the second largest bank in Turkey in terms of asset size, established with an initial capital of TL 50 million on January 11, 1954 and later started operating on April 13, 1954. the current ownership structure of the Bank as follows: Republic of Turkey Ministry of Treasury and Finance: 37.45%; Turkey Wealth Fund: 35.99%; VakıfBank Pension Fund: 10.30%; other shareholders: 0.10% and free float: 16.15%.

📚 Sources & References

Material Event Disclosure (General), รายงานความเห็นของทีปรึกษาทางการเงินอิสระ เกียวกับ การเข้าทํารายการทีเกียวโยงกันกับ GEP (Myanmar) Company Limited จํากัด ถือหุ้นโดยตรงในอัตราร้อยละ 99.99 ของทุนจดทะเบียน, our financial capital (Integrated Annual Report 2021)
ANNEX 1: LOAN AGREEMENTS WITH INTERNATIONAL FINANCIAL INSTITUTIONS
Earnings Presentation BRSA Bank-Only YE 2021 February 14, 2022
VakıfBank Integrated Annual Report 2022 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

Türkiye Vakiflar Bankasi T.A.O. (VakıfBank)

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