Turk Eximbank secures €186M in syndicated loans

By Gokhan Yildiz

ANKARA (AA) - Turk Eximbank on Thursday said it had signed three-year syndicated loans worth €186.5 million ($208 billion).

French financial services company Societe Generale are global coordinators for the financing which will support Turk Eximbank’s provision of medium- and long-term funds to Turkish exporters.

Adnan Yildirim, general manager of Turk Eximbank, said the move was in line with their strategy of diversification funding and increasing their mid-to-long term credit portfolio.

The volume of the Turk Eximbank's syndicated loan usage reached $1.7 billion in the first half of the year.

"The financing reflects trust in Turk Eximbak and the Turkish economy," Yildirim said.