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  • 09-09-20

    European bank credits Turkish lender to reverse businesses

    (MENAFN) The European Bank for Reconstruction and Development (EBRD) offered a 54 million USD mortgage to Turkish private lender Isbank to hold up businesses in the country.

    On Tuesday September 8 a statement from the EBRD stated that the funds will be channeled to the private sector in need of financing to conquer the coronavirus catastrophe.

    As a leading institutional shareholder in Turkey, the EBRD assets in Turkey have so far surpassed Euro1 billion (1.18 billion USD) this year.

    Since 2009, it has invested Euro12.4 billion (14.65 billion USD) throughout 311 schemes in different sectors of the country's economy, with approximately all asset in the private sector.

    MENAFN0909202000450000ID1100768051

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