European Investment Bank provides loan for Turkey

AA – This week the European Investment Bank granted a loan to Turkey. The European Investment Bank (EIB) signed three loan agreements with the Treasury Undersecretariat of Turkey, the Industrial Development Bank of Turkey (TSKB), the Development Bank of Turkey (TKB), Vakifbank and Halkbank. The EIB will provide EUR 335 million to the Turkish Treasury Undersecretariat to support public sector research. Also, the European bank will grant EUR 400 million in loans to the TSKB, TKB and Vakifbank to be used for small and medium-sized enterprises. The European Investment Bank will also give EUR 300 million to the Halkbank to back loans for small and medium-sized enterprises. "We aim to provide Turkey with EUR 2.1-2.5 billion in loans this year", said Matthias Kollatz-Ahnen, the vice president of the European Investment Bank, during the ceremony to mark the signing of the EUR 885 million loan agreements, held in the Turkish commercial hub of Istanbul.