US Ex-Im Bank to provide $1 bln in loans to Turkey

The Export-Import Bank of the United States and the Turkish Energy and Natural Resources Ministry signed July 22 a memorandum of understanding for a total of $1 billion in loans to finance renewable energy projects in Turkey, Energy Minister Taner Yıldız said. Under the agreement, signed during a visit by US Ex-Im Bank President Fred Hochberg to Ankara, the parties agreed to share information on trade and business opportunities to facilitate the sale of US goods and services offering environmental benefits to Turkey’s energy sector, including renewable energy and energy efficiency exports.

Turkey is the Ex-Im Bank’s fourth largest exposure at around $3 billion. By opening an additional $1 billion in coverage for Turkey, Ex-Im draws attention to Turkey’s fast-paced economic development and the considerable potential for energy-related commerce.

Source: Today’s Zaman


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