ECONOMY

Turk Eximbank gets $200M loan from Chinese bank

TURK EXIMBANK GETS $200M LOAN FROM CHINESE BANK

China Development Bank provided a three-year loan of $200 million to Turk Eximbank to support efforts to boost Turkish exports, the state-owned Eximbank announced on Wednesday.

In a statement, Turk Eximbank said both banks also agreed to enhance cooperation in a variety of fields, including foreign trade and project finance.

Turk Eximbank General Manager Adnan Yildirim said the loan was in line with their strategy of diversification of their funding opportunities and increasing mid-to-long term credit portfolio.

The amount of overseas funds received by Eximbank, including the $200 million loan, reached $2.1 billion during the first seven months of 2017, the statement added.

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