China-backed AIIB to lend $500 million to two Turkish development banks
Reuters
Published Jul 02, 2020 11:54PM ET
BEIJING (Reuters) - The Beijing-backed Asian Infrastructure Investment Bank (AIIB) said on Friday it would lend $500 million to two development banks in Turkey, to help ease liquidity issues caused by the COVID-19 pandemic.
The two borrowers, Türkiye Kalkınma ve Yatırım Bankası AS (IS:KLNMA) and Türkiye Sınai Kalkınma Bankası (IS:TSKB), plan to lend the borrowed funds to infrastructure companies, the bank said in a statement.
The loans are part of the AIIB's $10 billion funding facility to help public and private sectors fight the outbreak.
(Interactive graphic tracking global spread of coronavirus: open https://tmsnrt.rs/3aIRuz7 in an external browser.)
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Written By: Reuters
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