China Eximbank pledges $100 million loan to Garanti BBVA to promote trade between Turkey and China
Pledged amount
$ 150201004.8274792
Adjusted pledged amount
$ 150201004.8274792
Constant 2021 USD
Not recommended for aggregates
This project is not recommended for use in creating aggregated sums. See the documentation for more information about this criteria.
Summary
Funding agency [Type]
Export-Import Bank of China (China Eximbank) [State-owned Policy Bank]
Recipient
Türkiye
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
On June 25, 2009, China Eximbank and Garanti BBVA (Turkey's second largest private bank) signed a framework agreement. Under the terms of the agreement, the lender agreed in principle to allow Garanti BBVA to borrow up to $100 million to promote trade (imports and exports) between Turkish companies and China. It does not appear that any subsidiary loans were ever approved through this framework agreement.
Additional details
According to the SinoTF source, this agreement was signed in addition to the IS Bank framework agreement for $100 million USD on the same day (captured in Project ID#67251).
Number of official sources
4
Number of total sources
6
Details
Cofinanced
No
Direct receiving agencies [Type]
Türkiye Garanti Bank BBVA [Private Sector]
Implementing agencies [Type]
Türkiye Garanti Bank BBVA [Private Sector]