140 million Euro deal signed by Türk Eximbank

Türk Eximbank has signed a 140 million Euro, 10-year maturity funding agreement with a consortium of banks, under the 100 percent insurance of the Nippon Export and Investment Insurance (NEXI) and a Treasury repayment guarantee.

As the first transaction conducted by NEXI with a financial institution in Turkey under its LEAD program, the fund will not only provide financing opportunities to support commercial activities between Turkish exporters and Japanese firms, but will also offer long-term financing to SMEs, businesses that support the participation of female employees or female managers in their operations, and green product manufacturers that contribute to the reduction of carbon emissions through their activities.

"WILL BE USED TO SUPPORT"

Regarding the matter, Türk Eximbank General Manager Ali Güney stated, "The funds to be provided with NEXI's insurance will be an important resource for our exporters to access working capital financing. With this valuable partnership established between the two institutions, we plan to contribute to our country's economy by supporting commercial activities between Turkey and Japan. Furthermore, this fund, which will be used in line with supporting our firms that have sustainability-themed activities, will also serve as a vehicle to encourage our firms with potential in this area. With many similar supranational transactions that we plan to sign in the near future, we will continue to meet the financing needs of our exporters of all types, such as investment, working capital, and trade credit, with favorable costs and maturity options."

Nippon Export and Investment Insurance (NEXI), which provides insurance for the credit as a Japanese export credit agency, stated, "We are very pleased to have the opportunity to support Turkish exporters through our important partner, Türk Eximbank. The fund in question will be used to support the working capital needs of Japanese companies in Turkey as well as Turkish exporters that have business relationships with Japanese companies. We believe this agreement is a wonderful way to celebrate the 100th anniversary of diplomatic relations between Turkey and Japan. We believe that this funding source will not only support Turkish exports but also strengthen the economic partnership between the two countries by developing Japanese commercial activities in Turkey."

News Source: 12punto