7/5/2011

EIB signs EUR 445 million loan deal with Turkey

Dunya - The European Investment Bank (EIB) has allocated a total of EUR 445 million in loans to Turkey in four separate financing deals. According to the agreement between EIB and Turkey’s Undersecretariat of Treasury, the financing package will be utilized to support projects on climate change and entrepreneurship.

Signed by EIB Vice-President, Mr Matthias Kollatz-Ahnen, Undersecretary of Turkish Treasury, Ibrahim Canakci, Turkiye Kalkinma Bankasi (TKB) General Manager, Metin Pehlivan, Turkiye Sinai Kalkinma Bankasi (TSKB) acting General Manager, Orhan Beskok, the EIB loan will be made available through the Undersecretariat of Treasury in favor of the Ministry of Environment, Forestry and Urbanization, the Turkish State Railways (TCDD), and with the Turkish development banks TKB and TKSB.

Speaking at the ceremony held in Ankara, Ibrahim Canakci said that EIB has been a leading international partner of Turkey since the 1960s. Praising EIB’s ongoing contribution to Turkey’s economic development, Undersecretary Canakci said that the financing deals with the bank proved invaluable in financing major investments in key sectors.

Also speaking at the signature ceremony, EIB Vice-President Kollatz-Ahnen said that Turkey is the largest recipient of EIB loans outside the EU, which signifies the value EIB attached to the cooperation with the country.
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