Overview

China Eximbank provides RMB 500 million loan tranche to Ziraat Bank for on-lending activities in 2021 (Linked to Record ID#96079, Record ID#94391)

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

Commitment Year•2021Country 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: Mar 11, 2021

First repayment (originally scheduled): Apr 16, 2023

Last repayment (originally scheduled): Apr 16, 2023

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)

Implementing agencies

State-owned Banks

Türkiye Ziraat Bankası A.Ş. (Ziraat Bank)

Loan description

China Eximbank provides RMB 500 million loan tranche to Ziraat Bank for on-lending activities in 2021

Grace period•2.1 yearsInterest type•UnknownMaturity•2.1 years

Narrative

Full Description

Project narrative

On March 11, 2021, the Export-Import Bank of China and T.C. Ziraat Bank — a Turkish state-owned bank — signed a $396,815,535 inter-bank loan agreement with two tranches (an RMB 500 million tranche and a $320 million loan tranche) with identical borrowing terms: a 2.1-year maturity and a 2.1 year grace period. The RMB 500 million loan tranche is captured here. The $320 million loan tranche is captured via Record ID#96079. The loan is not backed by a sovereign guarantee from the Government of Turkey. The borrower is expected to use the loan proceeds for on-lending activities.