The Japanese Bank for International Co-operation (JBIC) has extended a US$200mn credit line to Denizbank of Turkey.
JBIC will finance US$120mn of the facility itself, while US$80mn will be financed by private financial institutions. A JBIC spokesperson tells GTR that the co-financiers have not been decided upon yet. They will be chosen when Denizbank decides to draw on the facility. The terms of the finance are undisclosed.
Denizbank will use the finance to extend loans to companies in Turkey and its neighbouring countries for the purchase of Japanese machinery and equipment, to be used in renewable energy and infrastructure development projects. Specifically, the areas covered are geothermal, wind, biomass, solar photovoltaic, waste-to-energy, hybrid power plants, combined heat and power, district heating and cooling.