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LOANS & CREDITS August 28, 2020

Turkey Emergency Firm Support Project

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.