A high-level delegation of the European Investment Bank (EIB) led by Vice-President Pim van Ballekom is in Istanbul for a two-day official visit. The delegation will meet today and tomorrow representatives of major Turkish companies and banks for the signature of seven new loan agreements, totalling over EUR 800 million. Small and medium enterprises (SMEs) will attract the largest part of the new funding; other loans will support healthcare and port infrastructure projects.
Credit lines for the support of SMEs and MidCap companies will be signed with five major banks operating in Turkey, including Eximbank, Ziraat Bank, ING Turkey and Odea Bank, for a total amount of EUR 700m. Showing its support to critical infrastructure and health projects in the country, the EIB will sign a EUR 50 million loan with AK Bank, which will be invested in new hospital facilities in the Etlik district in Ankara, as well as a USD 80m loan to Petkim Petrokimya Holding A.S., for the conversion of Petlim port capacity into an international container terminal.
During the visit VP van Ballekom also recorded the annual figures for the EIB’s lending in Turkey, announced at the EIB’s annual press conference in February, which increased by 12% in 2015 to reach EUR 2.3 billion. In order to promote innovation and economic growth in the country, the EIB maintained its strong support for SMEs, which accounted for more than half of its total lending in 2015.
EIB Vice-President Pim van Ballekom noted: “For years now, the EIB has been one of the largest international investors in Turkey, as confirmed by the further increase in our activities in 2015. This two-day visit provides the opportunity to reaffirm the excellent cooperation between the EU Bank and leading Turkish banks and entrepreneurs.”