Ziraat Bank secures $500 million in funding from China

Ziraat Bank announced that it has secured a three-year, two-tranche loan consisting of 400 million dollars and 700 million yuan from the Export-Import Bank of China. The agreement, which was carried out within the framework of the bank's strategy to diversify its resources and increase its non-deposit medium and long-term funding, aims to develop mutual foreign trade between Turkey and China.

According to Ziraat Bank's statement, the agreement consists of two tranches—400 million US dollars and 700 million Chinese yuan—and has a three-year maturity. This loan agreement supports the bank's goals of contributing to economic development and providing financing to the country's economic sectors. Furthermore, funds obtained from this agreement, which includes a local currency tranche, will be used to support various sectors, with priority given to exporters.

Emphasizing its determination to continue cooperation with international financial institutions and implement its strategy of diversifying external financing, the statement reiterated the bank's commitment to supporting the development of the Turkish economy. The bank stated that it will continue to adopt a responsible, effective, and sustainable banking approach in line with this strategy.

News Source: 12punto