CDB provides $200 million loan to Development Bank of Turkey (TKYB) for on-lending activities in 2021
Commitment amount
$ 200000000.0
Adjusted commitment amount
$ 200000000.0
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 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.
Number of official sources
6
Number of total sources
7
Details
Cofinanced
No
Direct receiving agencies [Type]
Turkiye Kalkinma ve Yatirim Bankasi A.S. (TKYB) [State-owned Bank]
Implementing agencies [Type]
Turkiye Kalkinma ve Yatirim Bankasi A.S. (TKYB) [State-owned Bank]
Guarantee provider [Type]
Government of Turkey [Government Agency]
Loan Details
Maturity
8 years
Grace period
2 years