Overview

CDB provides $400 million loan to Ziraat Bank for unspecified purposes (Linked to Record ID#67243)

Commitments (Constant USD, 2023)$425,650,552

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

End (actual): Feb 9, 2018

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)

Loan description

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

Interest type•Unknown

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.