Overview

CDB provides $200 million loan to Development Bank of Turkey (TKYB) for on-lending activities in 2021

Commitments (Constant USD, 2023)$184,428,327

Commitment Year•2021Country of Activity•TurkeyDirect Recipient Country of Incorporation•TurkeySector•Other MultisectorFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Dec 28, 2021

First repayment (originally scheduled): Dec 28, 2023

Last repayment (originally scheduled): Dec 26, 2029

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

Turkiye Kalkinma ve Yatirim Bankasi A.S. (TKYB)

Implementing agencies

State-owned Banks

Turkiye Kalkinma ve Yatirim Bankasi A.S. (TKYB)

Guarantors

Government Agencies

Government of Turkey

Loan description

CDB provides $200 million loan to Development Bank of Turkey (TKYB) for on-lending activities in 2021

Grace period•2 yearsInterest type•UnknownMaturity•8 years

Narrative

Full Description

Project narrative

On December 28, 2021, China Development Bank (CDB) and Turkiye Kalkinma ve Yatirim Bankasi A.S. (TKYB) -- a Turkish state-owned development and investment bank — signed a $200 million inter-bank loan agreement. The loan carries an 8-year maturity, a 2-year grace period, and an unknown interest rate. The loan is backed by a sovereign guarantee from the Government of Turkey. The borrower is expected to use the loan proceeds to finance projects in the following sectors: small and medium size enterprises (SMEs), infrastructure, energy, manufacturing, and education.