Financed ProjectsTurk Eximbank

Identification Code:

OP/18/0048

Total Operation Cost:

50.000.000

Maturity:

24 months

Operation Status:

Description and Purpose of the Operation:

Turk Eximbank

Countries of Operation:

Türkiye (100,00 %)

Financial Product:

Trade Finance

Sector:

Financial Institutions

Domain:

Public

Borrower/Client:

Trade Finance Facility to Turk Eximbank.

Co-Financiers/Participants:

n/a

Guarantors/Sponsors:

n/a

Developmental and Regional Cooperation Impact:

Operation involves € 50 million two years syndication facility (export) out of € 350 million to Turk Eximbank - owned by the government. The proceeds are highly likely to be used for on-lent operation of exporting sub-borrowers in line with Turk Eximbank’s mandate. There is no explicit guarantees that proceeds will the used to contribute to regional cooperation. However, given that almost 10% of total exports from Turkey are to BSTDB member countries and given the strong presence of Turkish contractors in the region, there is high likelihood that operation will have contribution to the regional cooperation.

Environmental Classification and Impact (summary):

Turk Eximbank has developed a comprehensive environmental and social (E&S) management system and has fully integrated it into the export credit portfolio management. The system is based on existing best practices applied in credit export transactions and the general E&S due diligence approach in financing, including of those developed by OECD, IFC, WB and UN specific E&S principles and standards.

Operation Leader:

Financial Institutions I

E-mail:

fi1@bstdb.org