Loans

8/4/2020

Industrial Development Bank of Turkey (TSKB) Signs a Loan Agreement Worth $ 200 Million with the AIIB

The allocated funds will be provided to infrastructure sectors such as transportation, energy, water, sustainable cities, healthcare services, information & communication technologies and to companies in production sectors selected in line with the strategies of AIIB…

It is stated that the Industrial Development Bank of Turkey (TSKB) has signed an agreement with the Asian Infrastructure Investment Bank (AIIB) to secure funds amounting to $ 200 Million.

Capitalization loans with maturities up to three years will be provided to companies within the framework of the agreement signed to respond to liquidity requirements of corporations having activities in the infrastructure and production sectors and having negatively been affected by the Covid-19 outbreak. Funds to be secured under the back-payment guarantee of the Ministry of Treasury and Finance of the Turkish Republic will be provided to infrastructure sectors such as transportation, energy, water, sustainable cities, healthcare services, information & communication technologies and to companies in production sectors selected in line with the strategies of AIIB.

Executive Vice President at TSKB Ece Börü

Executive Vice President at TSKB Ece Börü vocalizing that they are working since 70 years for Turkey to achieve the targets in its venture for sustainable development, made the following statement regarding the agreement:

“The loan package approved by the Executive Board of AIIB will make a great contribution in providing solutions for problems in the short term and enhancing resilience of the development banking system. On the other hand, we feel the happiness of taking a further step by means of this credit program in our continued cooperation with AIIB in renewable energy and sustainable infrastructure investments since 2018. We will continue to provide support to the sustainable economic development of our country and to safeguard the working force and production & supply chains by means of this new loan agreement signed under the guarantee granted by the Ministry of Treasury and Finance of the Turkish Republic.”