WASHINGTON, August 28, 2020 - The World Bank's Board of Executive Directors today approved the following project: Turkey Emergency Firm Support Project.
IBRD Loan (to Türkiye Vakıflar Bankası T.A.O.): $250 million
Term: Maturity = 23 years including Grace = 7 years
IBRD Loan (to Türkiye Kalkınma Ve Yatırım Bankası A.Ş.): $250 million
Term: Maturity = 25 years including Grace = 10 years
Project ID: P174112
Project Description: The objective is to ensure access to finance for private SMEs affected by or adapting to the economic impact of COVID-19.