TSKB raised a USD 197,4 million and EUR 65 million loan from the World Bank

The Export Finance Intermediation Project Loan IV (EFIL IV) Agreement was signed between TSKB (Industrial Development Bank of Turkey) and the World Bank in Istanbul on May 28th, 2008. The amount of the facility is USD 197,400,000 and EUR 65,000,000. The EFIL IV facility will provide medium and long term working capital to private exporting enterprises in Turkey. TSKB will act as an APEX bank in the disbursement of the facility and will lend the proceeds to commercial banks and leasing companies in Turkey which will lend the proceeds to exporters. TSKB is currently acting as an APEX Bank in the EFIL III facility and has fully completed EFIL II facility, which were secured for similar purposes and the successful implementation of these facilities have prepared the ground for the new loan.