IFC has bigger role in loans to Turk firms
Güncelleme Tarihi:
Daily News with wires
Oluşturulma Tarihi: Mayıs 13, 2009 00:00
ISTANBUL - The International Finance Corp., a branch of the World Bank that lends to businesses, is taking a bigger role in lending to Turkish companies as the global crisis makes borrowing harder, said Shahbaz Mavaddat, director for southern Europe and central Asia.
The IFC expects total loans to Turkish companies to increase to as much as $2.5 billion by 2011 from the current $1.8 billion, Bloomberg quoted Mavaddat as saying. The IFC led a group that lent 130 million euros ($177 million) to Zorlu Enerji for a wind power project. The plant will be built in the southern city of Osmaniye.
The IFC provided 55 million euros of the loan. The European Bank for Reconstruction and Development provided 45 million euros, while the European Investment Bank lent 30 million euros.
The IFC provided 55 million euros of the loan. The European Bank for Reconstruction and Development provided 45 million euros, while the European Investment Bank lent 30 million euros.