Turkey: COVID-19 Credit Line Project

approved

The proposed Turkey COVID-19 Credit Line Project will provide sovereign-backed short-term credit lines to two of Turkey's development banks and existing AIIB Clients, Turkey Sınai Kalkınma Bankası (TSKB) and Turkey Kalkınma ve Yatırım Bankası (TKYB) (jointly, the Borrowers) to alleviate liquidity constraints faced by infrastructure-related companies, mid-caps and small-medium enterprises (SMEs) serving the transport, energy, water, sustainable cities (including healthcare), information and communications technology (ICT), and eligible other productive sectors. This project will be processed under the AIIB's COVID-19 Recovery Facility (CRF), a framework designed to assist members in responding to the COVID-19 pandemic. These credit lines will not be used for infrastructure project finance, already covered in AIIB Projects TSKB Sustainable Energy and Infrastructure On-lending Facility (2018) and TKYB Renewable Energy and Energy Efficiency On-Lending Facility (2019).