Under the co-ordination of the Bank of Tokyo-Mitsubishi UFJ, a consortium that consists of 24 financial institutions signed an agreement with the Export Credit Bank of Turkey (Turk Eximbank) on Wednesday, in London, for a $670 million syndicated loan.
The international group of lenders are from Europe (4), from the U.S. (1), from Turkey (5), from the Far East (9) and from the Gulf (5 states).
“The main portion of the loan”, Anadolu reports citing the bank’s statement, “had a one-year maturity while 26 percent of the loan had a two-year maturity.”
Turk Eximbank was established in 1987 and comes second after the South Korean Eximbank as far as financing exports are concerned. These include international credit, guarantee and credit insurance programmes that help boosting economic and political ties of Turkey with other states…. / IBNA