Isbank cooperates with Japanese lender

Hurriyet Daily News - Isbank, Türkiye’s largest listed lender, signed an agreement with the Japan Bank of International Cooperation (JBIC), the international wing of the Japan Finance Corporation. Isbank has provided with this deal a credit facility of JPY 10 billion, according to a press statement. The amount, around USD 115 million, will be used for medium and long-term financing for Turkish importers who plan to buy ships from Japan. The agreement will allow Isbank to enable Turkish companies, which have agreed to use Japanese currency, yen, for transactions with Japan, to use credit for 80 percent of their contracts, with a maturity term of up to 12 years. The agreement between Isbank and JBIC, which is the first credit limit proposed by JBIC for financing ship purchases, will also contribute to the bilateral relations of the two countries, said the statement.