EXTERNAL LOAN PORTFOLIO OF ILBANK EXCEEDS EUR 3BN

The external loan portfolio of Ilbank, the development and investment bank established in 1933 to support the development of municipalities after the Turkish War of Independence, has exceeded EUR 3bn in 2021, according to Yusuf Buyuk, General Director of the bank. “We enhance our local governments’ loan capabilities with international financing through maturities up to 30 years with a grace period and an annual average of EURIBOR +1.5% interest rate,” said Buyuk. A total of 132 of 522 projects have been completed with these loans while 107 projects are ongoing another 283 are at the tender phase. Ilbank has TRY 30bn in nominal capital, TRY 21bn paid capital, TRY 25bn equity capital and a total asset size of TRY 49bn.