Project ID: 67154

ICBC provides $250 million loan to Vakif Bank for trade finance purposes and general purposes

Commitment amount

$ 288084539.2552434

Adjusted commitment amount

$ 288084539.26

Constant 2021 USD

Summary

Funding agency [Type]

Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]

Recipient

Türkiye

Sector

Banking and financial services (Code: 240)

Flow type

Loan

Level of public liability

Other public sector debt

Infrastructure

No

Category

Intent

Commercial (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Completion (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2017-03-03

Description

On March 3, 2017, under the coordination of ICBC Turkey AŞ, VakifBank — a private Turkish bank — signed a $250 million bilateral loan agreement with ICBC Dubai for trade finance purposes and general-purpose financial needs. The maturity of the loan was 3 years. The interest rate of the loan is unknown.

Number of official sources

3

Number of total sources

6

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Türkiye Vakiflar Bankasi (VakıfBank) [State-owned Bank]

Loan Details

Maturity

3 years

Bilateral loan

Inter-bank loan