Asian bank loans $500 million to Turkish banks

The (AIIB) approved $500 million in loans for the (TKYB) and the (TSKB) to reduce the effects of the coronavirus pandemic.

The AIIB granted $300 million loan to TKYB and $200 million to TSKB under the guarantee of the Turkish Treasury and Finance Ministry, the banks said in separate press releases.

The TKYB's shares of 99.08% are owned by the ministry, while TSKB is a privately-owned investment and development bank.

As of Wednesday, the total number of COVID-19 cases in Turkey reached 201,098, with 5,150 deaths and 175,422 recoveries.

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