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Turk Eximbank

Türkiye | Financial Institutions

Identification Code:: OP/24/0028
Total Operation Cost:: 45.000.000 USD
Maturity:: 24 months
Operation Status:: BSTDB Approved Amount – Approval Date

45.000.000 USD – 16 Oct 2024
: BSTDB Signed Amount – Signed Date

45.000.000 USD – 04 Dec 2024
: Status:
Active
Description and Purpose of the Operation:: Turk Eximbank
Countries of Operation:: Türkiye (100,00%)
Financial Product:: Trade Finance
Sector:: Financial Institutions
Domain:: Private
Borrower/Client:: 3rd Trade Finance Loan Facility to Türk Eximbank, TR
Co-Financers/Participants:: n/a
Guarantors/Sponsors:: n/a
Developmental and Regional Cooperation Impact:: The operation involves a Trade Finance facility (export) to Türk Eximbank - owned by the government. The proceeds are to be used for the on-lent operation to exporting sub-borrowers in line with Türk Eximbank’s mandate. There are no explicit guarantees that proceeds will the used to contribute to regional cooperation. However, given that almost 10% of total exports from Türkiye are to BSTDB member countries and given the strong presence of Türkiye contractors in the region, there is a high likelihood that operation will have a contribution to the regional cooperation.
Environmental Classification and Impact:: Türk 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