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Japan Bank for International Cooperation (JBIC) has signed bank-to-bank loan agreements with two leading private commercial banks in Turkey to further strengthen trade and investment relations between the two countries.
The loans will establish export credit lines for the Turkish banks. The aggregate amount of credit for three Turkish private banks will total ¥20bn (US$170mn) and will be co-financed by JBIC and private banks. The loans will provide Turkish companies with access to funds for importing machinery and equipment from Japan.

Specifically, JBIC has signed loan agreements with Finansbank and Denizbank. Each loan will total up to ¥2.5bn and up to US$25mn and will be co-financed with Mizuho Corporate Bank.

JBIC has also signed cooperation agreements with Finansbank, Denizbank, and Is Bankasi to provide comprehensive, multi-faceted support for Japanese exports to Turkey and the surrounding region, including CIS countries. These global business incubation (GBI) strategy agreements will support Japanese companies’ business development in Turkey and the surrounding region by making use of the banks’ domestic and overseas branch networks.

Helped by structural reforms in the banking sector, the Turkish economy is now on a stable growth path following the economic crisis of 2000 and 2001. The country’s trade volume has also been rapidly increasing.