İşbank signed a new loan agreement with the Asian Infrastructure Investment Bank (AIIB) amounting to USD 100 million with a maturity of 5 years. The loan will be used to finance the liquidity needs of SMEs and to strengthen their working capital.
Türkiye İş Bankası signed a new loan agreement with Asian Infrastructure Investment Bank (AIIB) amounting to USD 100 million with a maturity of 5 years. The loan will be used to finance the liquidity needs of small and medium-sized enterprises (SMEs), which are the locomotive of the Turkish economy, and to strengthen their working capital. In addition to the 227 million dollars provided by the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC), last month, the Bank obtained from AIIB in order to use it in areas focused on green transformation and sustainability. will contribute to the economic development of Turkey through
Gamze Yalçın, Deputy General Manager of İşbank, said in a statement on the subject that in the current economic conjuncture, where high-level increases in energy prices occur, breaks in supply chains are experienced, and the effects of the Covid-19 epidemic on the economy continue, they are committed to making the long-term resource they receive from AIIB available to SMEs. stressed that it is important.
Stating that this resource will have a positive impact on the increase in the financial resilience of enterprises and the creation of new employment opportunities, Yalçın said, “This loan, which is an indicator of the trust placed in İşbank in the international markets, is the first transaction of Türkiye İş Bankası with AIIB. We are very pleased that a reputable institution such as AIIB has joined the international financial institutions that our bank cooperates with. We believe that the relationship with AIIB will continue to strengthen in the coming periods.”
“SOURCE, EXAMPLE OF OUR COMMITMENT TO SUPPORT MEMBER COUNTRIES”
Najeeb Haider, Director General of Asian Infrastructure Investment Bank, stated that they see this resource they have provided as an example of their determination and capacity to support member countries and partner organizations within the scope of the program to reduce the effects of the Covid-19 epidemic. Emphasizing that they see this transaction as the beginning of their long-term and mutually beneficial cooperation with İşbank, Haider said, “We are committed to supporting SMEs, which are the backbone of the Turkish economy, and cooperating with İşbank, the largest private bank of Turkey, under the challenging conditions of the world economy. We are very pleased,” he said.
Source: bigpara- GÜNDEM by bigpara.hurriyet.com.tr.
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