INDUSTRIAL EXP. DEVT

closed

The Industrial Export Development Project is designed to support Turkey's drive for expanding exports and to improve the policy and institutional framework relevant to export finance. It consists of a credit component of US$298.5 million for on-lending by the participating banks and a technical assistance component of US$1.5 million. The credit component to be implemented through the participating banks includes two private development banks, Turkiye Sinai Kalkinma Bankasi (TSKB) and Sinai Yatirim ve Kredi Bankasi (SYKB), and several major private and public commercial banks. The commercial banks will have access to the Bank loan through TSKB and SYKB, which will perform intermediary functions on behalf of the Government for a fee of 0.5% p.a. All sub-projects financed under thee project will be expected to meet the agreed target of exporting at least 20% of incremental production within 3 to 5 years after start-up. The project further includes a technical assistance component of US$1.5 million for strengthening the Export Promotion Research Center; assisting the Ex-IM Bank in setting up a trade and export credit information system; and carrying out a study of credit delivery systems for industrial finance.