Overview

China Eximbank provides $300 million to Garanti Bank to finance imports from China

Commitments (Constant USD, 2023)$327,216,472

Commitment Year•2016Country of Activity•TurkeyDirect Recipient Country of Incorporation•TurkeySector•Trade Policies And RegulationsFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jun 30, 2016

Last repayment (originally scheduled): Jun 30, 2019

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Funding agencies

State-owned Policy Banks

Export-Import Bank of China (China Eximbank)

Receiving agencies

Private Sector

Türkiye Garanti Bank BBVA

Implementing agencies

Private Sector

Türkiye Garanti Bank BBVA

Loan description

China Eximbank provides $300 million to Garanti Bank to finance imports from China

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

On June 30, 2016, the Export-Import Bank of China and Garanti Bank (Turkey's second largest private bank) signed a $300 million loan agreement. The loan carried the following terms: a 3-year maturity and unknown interest rate. The proceeds of the loan were be used to be used by the borrower to finance the import of goods from China to Turkey.