Project ID: 96078

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

Commitment amount

$ 435939899.1514707

Adjusted commitment amount

$ 435939899.15

Constant 2021 USD

Summary

Funding agency [Type]

Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]

Recipient

Türkiye

Sector

Unallocated/unspecified (Code: 998)

Flow type

Loan

Level of public liability

Other public sector debt

Infrastructure

No

Category

Intent

Mixed (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Pipeline: Commitment (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2018-06-26

Description

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.

Number of official sources

5

Number of total sources

6

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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]

Loan Details

Maturity

8 years

Grace period

2 years

Bilateral loan

Inter-bank loan