Overview

China Development Bank provides $200 million loan to Industrial Development Bank of Turkey (TSKB) for manufacturing industry, SME, energy, infrastructure, health and education projects

Commitments (Constant USD, 2023)$207,597,498

Commitment Year•2019Country of Activity•TurkeyDirect Recipient Country of Incorporation•TurkeySector•Other MultisectorFlow Type•Loan

Status

Project lifecycle

Implementation

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Sep 11, 2019

Last repayment (originally scheduled): Sep 9, 2027

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

Private Sector

Türkiye Sinai Kalkinma Bankasi [Industrial Development Bank of Turkey] (TSKB)

Guarantors

Government Agencies

Government of Turkey

Loan description

China Development Bank provides $200 million loan to Industrial Development Bank of Turkey (TSKB) for manufacturing industry, SME, energy, infrastructure, health and education projects

Interest type•UnknownMaturity•8 years

Narrative

Full Description

Project narrative

On September 11, 2019, the Inner Mongolia Branch of China Development Bank signed a $200 million loan agreement with the Industrial Development Bank of Turkey (TSKB). The loan carried the following terms: a maturity of 8 years and a 2 year grace period. Its interest rate is unknown. The Government of Turkey issued a sovereign guarantee in support of the loan. The borrower was to use to the proceeds of the loan to on-lend in support of projects in the projects in the manufacturing/industry, SME, energy, infrastructure, health and education sectors in Turkey.