China Development Bank extends USD 200 million loan to TSKB
The Industrial and Development Bank of Turkey (TSKB) has obtained USD 200 million loan from the China Development Bank. Providing some details about the loan agreement, the Chief Executive Officer of TSKB, Suat İnce said, “The loan is the first transaction to be provided to Turkey by the CDB under the guarantee of the Ministry of Treasury and Finance. In addition, it marks an important indicator of the continued confidence of international financial institutions and investors in the strength of the Turkish economy.
The Industrial and Development Bank of Turkey (TSKB) has obtained USD 200 million loan from the China Development Bank (CDB). With the loan provided under the Belt and Road Initiative carried out by the People's Republic of China, which marks the first long-term loan to be provided by CDB in Turkey, TSKB will support projects in manufacturing industry, SMEs, energy, infrastructure, health and education sectors in Turkey.
TSKB CEO, Suat İnce stated that the agreement marked an important indicator of the continued confidence that international financial institutions and investors had in the strength of the Turkish economy, adding: “The loan agreement that we signed today is the first loan that the CDB has provided to a bank in Turkey under the guarantee of the Ministry of Treasury and Finance. I would like to express my gratitude to the Ministry for its great efforts in this pioneering step to be taken and to the CDB, with which we have developed valuable cooperation in our development journey. We fully believe that our cooperation with the CDB, which starts with this first agreement, will flourish in the coming years. For 69 years, we have been contributing to Turkey’s development and sustainable growth with strong determination in accordance with our strategic goals, and we have been creating value for our stakeholders. This latest loan agreement will also play an important role in strengthening our efforts in the area of inclusive and sustainable financing.”
