Economy
Chinese bank to loan $3.6 billion to Turkey
Loan to be used by private sector, public institutions and banks, says Turkish minister
Jeyhun Aliyev |
26.07.2018 - Update : 02.08.2018
Ankara
By Jeyhun Aliyev
ANKARA
The Industrial and Commercial Bank of China (ICBC) provided a $3.6-billion loan package for the Turkish energy and transportation sector, Treasury and Finance Minister Berat Albayrak said on Thursday.
"The $3.6 billion loan package from Chinese financial institutions for energy and transportation sector investments -- private sector, public institutions and banks -- has been completed," Albayrak said in a tweet.
Albayrak also described his negotiations during a visit to China as "fruitful".
In May, Albayrak visited a number of institutions in China, including the ICBC.
ICBC Turkey is the first Chinese bank that started operations in Turkey by acquiring majority shares of a local bank in May 2015.
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