CDB provides $200 million loan to Turk Eximbank for unspecified purposes
Commitment amount
$ 230467631.40419474
Adjusted commitment amount
$ 230467631.4
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Türkiye
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Other public sector debt
Infrastructure
No
Category
Project lifecycle
Description
On August 17, 2017, the Inner Mongolia Branch of China Development Bank and the Export Credit Bank of Turkey (Türk Eximbank) signed a $200 million credit agreement. The loan had a 3.1 year maturity period. The interest rate is unknown. The unconsolidated financial statements of Türk Eximbank as of December 31, 2019 demonstrate that this loan disbursed.
Additional details
1. Export Credit Bank of Turkey (Türk Eximbank), which was established in 1987, is the official export credit agency in Turkey. It is a fully state-owned bank acting as the Turkish government’s major export incentive vehicle in Turkey’s sustainable export strategy. As Turkey’s official export credit agency, Türk Eximbank has been mandated to support foreign trade and Turkish contractors/investors operating overseas.
Number of official sources
5
Number of total sources
8
Details
Cofinanced
No
Direct receiving agencies [Type]
Export Credit Bank of Turkey (Turk Eximbank) [State-owned Bank]
Implementing agencies [Type]
Export Credit Bank of Turkey (Turk Eximbank) [State-owned Bank]
Loan Details
Maturity
3 years