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Development Bank of Turkey (TKB) signed a EUR 100 million long-term tourism loan agreement.
 
Home Page \ Development Bank of Turkey (TKB) signed a EUR 100 million long-term tourism loan agreement.

Development Bank of Turkey (TKB) signed a EUR 100 million long-term tourism loan agreement.
EUR 100 million loan agreement between Development Bank of Turkey (TKB) and European Investment Bank (EIB), to provide funds to sustainable tourism and energy efficiency investments has been signed.

Development Bank of Turkey has received Euro 637 million from European Investment Bank since 2002 with the successful cooperation between two Banks. As a continuation of this process, “Sustainable Tourism and Energy Efficiency Global Loan” concerns the financing of renovation and optimization of existing tourism facilities, rational use of natural resources, solar energy with a total installed capacity less that 0.5 MW, waste water treatment or any other investment with a significant positive environmental impact and energy efficiency investments. The said fund will be provided by TKB to the investors as USD, EURO or TL with convenient repayment conditions.

Mr. Metin Pehlivan, Acting General Manager of TKB, stated that: “..having the experience and knowledge of the Tourism Bank, TKB will continue to provide finance for tourism sector in line with the needs and demands of investors. The sector, providing significant contribution to the development of the country through high employment rate and foreign exchange earnings, has always been important for TKB”. 

Acting General Manager Mr. Pehlivan also added that borrowing from international financial institutions, which as of today reached USD 1.75 billion, is expected to exceed USD 2 billion by the end of 2013 together with the new loans to be provided this year. TKB, having close cooperation with investors, will continue to support appropriate projects in industry, tourism, health, education, renewable energy and energy efficiency investments.