China Development Bank provides $200 million loan to Industrial Development Bank of Turkey (TSKB) for manufacturing industry, SME, energy, infrastructure, health and education projects
Commitment amount
$ 224712922.45242786
Adjusted commitment amount
$ 224712922.45
Constant 2021 USD
Summary
Funding agency [Type]
China Development Bank (CDB) [State-owned Policy Bank]
Recipient
Türkiye
Sector
Other multisector (Code: 430)
Flow type
Loan
Level of public liability
Central government-guaranteed debt
Infrastructure
No
Category
Project lifecycle
Description
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.
Number of official sources
7
Number of total sources
10
Details
Cofinanced
No
Direct receiving agencies [Type]
Industrial Development Bank of Turkey (TSKB) [State-owned Bank]
Guarantee provider [Type]
Government of Turkey [Government Agency]
Loan Details
Maturity
8 years