CDB provides $70 million loan to Export Credit Bank of Turkey for on-lending purposes

$70.46M USD

Funder	China Development Bank (CDB)
Recipient Organization	Export Credit Bank of Turkey (Turk Eximbank)
Country	Turkey
Start Date	Dec 01, 2021
End Date	Apr 21, 2031
Duration	3,428 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`94070`

Grant Description

CDB provides $70 million loan to Export Credit Bank of Turkey for on-lending purposes In 2021, China Development Bank (CDB) issued a $70.46 million loan to the Export Credit Bank of Türkiye (Türk Eximbank) for on-lending purposes. The loan carries a 3-year maturity.

While the specific lending terms are unknown, it is indicated that the interest rates are between Libor/Euribor +0.7% to 3.13%.

📋 Staff Comments

1. Average 6 month LIBOR in 2011 was .197%. Therefore, the all-in interest rate is between as .197% + 0.7% to 3.13%, which is between .897% to 3.327%. This rate renders the loan non-concessional.

📚 Sources & References

eximbank-2021-yili-faaliyet-raporu, 2021 Faaliyet Raporu - Turk Eximbank Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.