Overview

ICBC provides $400 million loan to Development Bank of Turkey (TKYB) for on-lending activities in 2018

Commitments (Constant USD, 2023)$402,518,518

Commitment Year•2018Country of Activity•TurkeyDirect Recipient Country of Incorporation•TurkeySector•Unallocated/unspecifiedFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date: Jun 26, 2018

First repayment (originally scheduled): Jun 25, 2020

Last repayment (originally scheduled): Jun 24, 2026

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 Commercial Banks

Industrial and Commercial Bank of China (ICBC)

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)

Loan description

ICBC provides $400 million loan to Development Bank of Turkey (TKYB) for on-lending activities in 2018

Grace period•2 yearsInterest type•UnknownMaturity•8 years

Narrative

Full Description

Project narrative

On June 26, 2018, the Industrial and Commercial Bank of China and Turkiye Kalkinma ve Yatirim Bankasi A.S. (TKYB) -- a Turkish state-owned development and investment bank — signed a $400 million inter-bank loan agreement. The borrower is expected to use the loan proceeds for on-lending activities.