Turkey's export credit bank signs USD124M funding agreement with Dutch ING
Date
5/12/2024 4:41:40 AM
(MENAFN) Turk Eximbank, Turkey's export credit bank, recently announced a significant development in its financial operations. It has entered into a substantial 5-year funding agreement, totaling €115 million (USD124 million), with the prominent Dutch banking institution, ING. This agreement represents a crucial step in bolstering Turk Eximbank's financial resources and facilitating its support for Turkish exporters and the country's Economy as a whole.
The funding agreement was formalized under the auspices of The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), emphasizing the collaborative efforts in international finance to strengthen economic endeavors. The involvement of ICIEC underscores the importance of ensuring stability and security in investment and export credit activities.
Ali Guney, the general manager of Turk Eximbank, expressed the institution's commitment to leveraging this valuable facility provided by ING and ICIEC. Guney emphasized that this funding arrangement aligns with Turk Eximbank's core mission as Turkey's sole official export credit agency. By securing such partnerships and financial support, Turk Eximbank aims to continue facilitating the financing needs of Turkish exporters, thereby contributing to the growth and sustainability of the national economy.
The agreement with ING underscores the confidence placed in Turk Eximbank's capabilities and its pivotal role in supporting Turkey's export-oriented industries. Such collaborations not only provide essential financial resources but also reinforce Turkey's position in the global market as a reliable partner for trade and investment. Through strategic alliances and prudent financial management, Turk Eximbank remains committed to advancing the interests of Turkish exporters and fostering economic prosperity in the country.
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