ZIRAAT BANK INKS USD 400M LOAN DEAL WITH CHINA EXIM BANK

Ziraat Bank received USD 400m in financing with a loan agreement signed with China Exim Bank, according to the bank’s statement. The cost-effective loan provided in two tranches, including USD 320m and CNY 500m. The loan will contribute the development and increase of trade in local currencies. The amount will meet the financing needs of companies mainly trading between Turkey and China. Ziraat Bank had secured a USD 600m bilateral loan agreement with China Development Bank (CDB) in 2017. Ziraat Bank issued ‘Sustainable Eurobonds’ amounting to USD 600m toward the financing of loans under social and environmental themes in January.