Turk Eximbank, ICBC Turkey ink $237.9M loan agreement

By Musab Turan

ISTANBUL (AA) - Turk Eximbank signed a two-year loan agreement with ICBC Turkey, a Chinese private lender, securing €200 million euro ($237.9 million) to support export financing.

In a statement, Ali Guney, Turk Eximbank’s general manager, said cooperation between the banks will increase with the positive effects on trade and economic relations between Turkey and China.

"It is pleasing to see that Turkish Eximbank's existing relations with the ICBC Group have further improved with this new loan, in addition to their support in the syndication market," he added.

With the two-year term loan, Turk Eximbank has ensured $2.8 billion to the exporters since the beginning of the year.

Founded in 1987 as Turkey’s official export credit agency, Turk Eximbank has been constantly introducing new credit programs to address the demands and needs of exporters.

*Writing by Yunus Girgin in Ankara