Turkey: Eximbank COVID-19 Credit Line Project

approved

Eximbank COVID-19 Credit Line Project will be supported by a sovereign-backed loan (“Credit Line”) to Turkey İhracat Kredi Bankası A.Ş. (Export Credit Bank of Turkey, “Eximbank” or the “Borrower”), the largest development bank in Turkey. The Credit Line will be guaranteed by the Republic of Turkey. Eximbank will on-lend the proceeds of the Credit Line to sub-borrowers operating in the export sector in Türki�ye for their working capital needs. This project will be processed under AIIB's COVID-19 Crisis Recovery Facility (“Facility”), a framework designed to assist members to respond to the COVID-19 pandemic, and will follow the approach adopted under the earlier Turkey COVID-19 Credit Line Project (2020), which extended an aggregate USD 500 million credit line to Turkey Sınai Kalkınma Bankası and Turkey Kalkınma ve Yatırım Bankası, two of Turkey's development banks.