Financed ProjectsTurkexim Bank

Identification Code:

OP/99/0016

Total Operation Cost:

0

Maturity:

6 months

Operation Status:

Description and Purpose of the Operation:

BSTDB extends a Pre-export Finance facility to be used for the purpose to provide short term pre-export financing to Turk Eximbank's customers in Turkey, which export goods to other BSTDB member countries.

Countries of Operation:

Türkiye (100,00 %)

Financial Product:

Trade Finance

Sector:

Financial Institutions

Domain:

Public

Borrower/Client:

Turk Eximbank was established as Turkey's "Official Export Credit Agency" on 25 March 1987 (transformed from "State Investment Bank ") as a development and investment bank. It is a fully state-owned bank acting as the Turkish government ' s major export incentive instrument in Turkey 's sustainable export strategy. As Turkey' s official export credit agency, Turk Eximbank has been mandated to support foreign trade and Turkish contractors/investors operating overseas.

Co-Financiers/Participants:

Guarantors/Sponsors:

Developmental and Regional Cooperation Impact:

Support of Turk Eximbank's activities in financing eligible trade transactions is in line with BSTDB's operational objectives. By working with Turk Eximbank, BSTDB will be able to reach a larger number of companies in Turkey and contribute to increasing of intra-regional trade among BSEC countries. It will contribute not only to pre shipment financing, but also to post shipment financing and will increase the competitiveness of Turkish exporters, for all type of goods, including capital goods.

Environmental Classification and Impact (summary):

In order to reduce/avoid any Environmental, Health & Safety (EH&S) impacts that potentially may arise from trade finance activities FI shall follow the BSTDB's Negative List of Goods, including the Environmental Exclusion List, and subject domestic legal requirements, as well as make sure that the Beneficiaries fully comply with these requirements. The Borrower shall immediately notify the Bank of occurrence of any incident or accident relating to any underlying export or import transaction of which the Borrower is, or ought to be aware, and which is likely to adversely affect the state of environment, and/or human health and safety.

Operation Leader:

Financial Institutions I

E-mail:

fi1@bstdb.org