Overview

CDB provides $200 million loan to Ziraat Bank for unspecified purposes (Linked to Record ID#67244)

Commitments (Constant USD, 2023)$212,825,276

Commitment Year•2017Country of Activity•TurkeyDirect Recipient Country of Incorporation•TurkeySector•Unallocated/unspecifiedFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Dec 12, 2017

Start (actual): Dec 31, 2017

First repayment (originally scheduled): Jul 2, 2017

Last repayment (originally scheduled): Jan 1, 2020

Stakeholders

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

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Policy Banks

China Development Bank (CDB)

Receiving agencies

State-owned Banks

Türkiye Ziraat Bankası A.Ş. (Ziraat Bank)

Implementing agencies

State-owned Banks

Türkiye Ziraat Bankası A.Ş. (Ziraat Bank)

Loan description

CDB provides $600 million loan to Ziraat Bank for unspecified purposes in Turkey in 2017

Grace period•0.5 yearsInterest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

On December 12, 2017, China Development Bank signed a $600 million loan agreement with Ziraat Bank — a Turkish state-owned bank — for unspecified purposes. The loan carried a 3-year maturity and 6 month grace period. It was disbursed in two tranches: a $200 million tranche (captured in Record ID#67243) and a $400 million tranche (captured in Record ID#67244). The first tranche was utilized as of December 2017. The second tranche was utilized on February 9, 2018.