Turkiye Is Bankasi secures Japanese loan for renewables projects

Oct 9, 2012 - Turkish lender Turkiye Is Bankasi (IST:ISATR) on Friday said it had agreed a USD-100-million (EUR 77.4m) credit line with the Japan Bank for International Cooperation (JBIC) to back green energy projects using Japanese equipment.

Is Bankasi will use the credit to finance imports from Japan of equipment and services for renewable energy projects. The credit agreement is JBIC's first credit line of this kind in Turkey for this sector, said Adnan Bali, general manager of Is Bankasi.

The Turkish bank added that it had also signed a USD-200-million loan agreement with the JBIC to finance technology exports from Japan to Turkey and its neighboring countries in the Middle East, Central Asia and North Africa.

(USD 1 = EUR 0.774)

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