Overview

China Eximbank provides $200 million loan to Denizbank in Turkey for financing imports from China

Commitments (Constant USD, 2023)$201,259,259

Commitment Year•2018Country of Activity•TurkeyDirect Recipient Country of Incorporation•TurkeySector•Unallocated/unspecifiedFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Dec 12, 2018

Last repayment (originally scheduled): Dec 11, 2021

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

DenizBank A.Ş.

Loan description

China Eximbank provides $200 million loan to Denizbank in Turkey for financing imports from China

Interest type•UnknownMaturity•3 years

Narrative

Full Description

Project narrative

On December 12, 2018, the Export-Import Bank of China (China Eximbank) agreed to provide Denizbank a $200 million credit facility with a three year maturity period. The loan was to be used by customers of Denizbank to finance imports from China. The interest rate of the loan is unknown, as is the status of any disbursements and the particular imports to be financed.

Staff comments

1. DenizBank A.Ş. is a large private bank in Turkey. It is currently owned by Emirates NBD. It was owned and controlled by leading Russian bank Sberbank from 2012 to 2019.