Overview

China Eximbank provides RMB 500 million loan to Ziraat Bank in Turkey (Linked to Record ID#96079, Record ID#96080)

Commitments (Constant USD, 2023)$71,483,848

Commitment Year•2021Country of Activity•TurkeyDirect Recipient Country of Incorporation•TurkeySector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Completion

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Mar 31, 2021

End (actual): Mar 31, 2021

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

Export-Import Bank of China (China Eximbank)

Receiving agencies

State-owned Banks

Türkiye Ziraat Bankası A.Ş. (Ziraat Bank)

Loan description

China Eximbank provides RMB 500 million loan to Ziraat Bank in Turkey

Interest type•Unknown

Narrative

Full Description

Project narrative

On March 31, 2021, China Eximbank provided a RMB 500 million loan to Ziraat Bank, a Turkish state-owned bank. This loan is part of a dual tranche loan agreement totaling USD 395 million, divided tranches of USD 320 million and RMB 500 million RMB (USD 75 million). According to Ziraat Bank, the loans are intended to "diversify the resources obtained internationally in the medium and long term and increase financial cooperation in different geographical regions."