5/25/2010

USD 100 million loan by the World Bank

 

Referans - The Development Bank of Turkey’s Board Chairman and CEO Abdullah Celik said they are close to signing a deal with the World Bank to secure a USD 100 million loan within the scope of wholesale banking in the second half of the year. During his speech at the opening ceremony of the 27th Ordinary General Meeting of the bank, Celik emphasized that their basic strategy in providing resources is to align themselves with the needs of the real sector and said that activities addressing renewable energy and energy efficiency will increase in the coming years. Celik said they are interested in long-term and low-cost funding and added that, when the sustainability of resources is given priority, international and multinational development banks are the main sources of finance.

 

“We have established relationships with institutions in various countries providing funds to small and medium-sized businesses (SMEs), investments for food security and other sectors in addition to the environmental and energy sectors. The search for funding for developing wholesale banking projects from the World Bank and similar financial institutions is in progress”, Celik noted.

finance sector; Development Bank of Turkey; TKB; World Bank; World Bank loan; World Bank lending; Abdullah Celik; energy efficiency; food security; SME

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