Chinese bank to lend $3.6 billion to Turkey: Albayrak

[haidian]

Chinese bank to lend $3.6 billion to Turkey: Albayrak
ANKARA

The Industrial and Commercial Bank of China (ICBC) has provided a $3.6 billion loanpackage to the Turkish energy and transportation sector, Treasury and Finance Minister Berat Albayrak said on July 26.

“The $3.6 billion loan package from Chinese financial institutions for energy and transportation sector investments — private sector, public institutions and banks — has been completed,” Albayrak said in a tweet.

Albayrak also described his negotiations during a visit to China as “fruitful.”

In May, Albayrak visited a number of institutions in China, including the ICBC.

ICBC Turkey is the first Chinese bank that started operations in Turkey by acquiring majority shares of a local bank in May 2015.

http://www.hurriyetdailynews.com/chinese-bank-to-lend-3-6-billion-to-turkey-albayrak-135083

 

[royalharris]

turkey?

 

[haidian]

Turkey secures $3.6 billion loan package from China

Jul 26 2018

The Industrial and Commercial Bank of China (ICBC) has agreed a loan package worth $3.6 billion for Turkey’s energy and transportation sector, Turkey’s Finance and Treasury Minister, Berat Albayrak, announced on Thursday.

The announcement comes during Albayrak’s visit to China, one of his first overseas trips since being named Finance and Treasury minister earlier this month.

The provision of a multi-billion dollar loan package has come at a fortunate time for Turkey, which will likely face U.S. sanctions , including restrictions on development loans, as a response to the imprisonment in Turkey of U.S. citizens and employees.

ICBC gained a foothold in Turkey in 2015 by acquiring over 75 percent of shares in the Turkish TekstilBank in a $316 million deal.

https://twitter.com/x/status/1022513489993261056

https://ahvalnews.com/china-turkey/turkey-secures-36-billion-loan-package-china

 

[Offshore]

well, i'm waiting for PDF turk who calling Chinese as peasant, where are they now? lol

Begging some money from Chinese "peasant"
what a loser

 

[haidian]

Should let them go bankrupt like Greece, that will take them down a peg or two.

 

[Offshore]

Should let them go bankrupt like Greece, that will take them down a peg or two.

totally agree.. that's what i'm thinking.
We can rip alot benefit from that, once their economy destroy by US, China can get in and buying strategic asset with discount price

 

[LordTyrannus]

Turkey stronk111 with debth as huge as the moon.

 

[royalharris]

Several days ago, some PDF Turkish member are still worried with their Pakistan “brothers “ trapped in Chinese debt

Why turkey rush into Chinese debt trap again?
Pakistan need such loans more than turkey!

 

[haidian]

Like India hosting Dalai Lama, Turkey is hosting Xinjiang separatist groups in its soil and still takes our money to save their butt, the Chinese government should be aware of Turkey.

 

[royalharris]

Turkey is double head snake

 

[haidian]

They also use our technology to connect their cities

 

[Jlaw]

Like India hosting Dalai Lama, Turkey is hosting Xinjiang separatist groups in its soil and still takes our money to save their butt, the Chinese government should be aware of Turkey.

Chinese government corrupt and greedy throughout most of its history. Nothing changed, history always repeat itself in China.
Next collpase of CPP will see China split up like spring and Autumn western Zhou dynasty.

 

[TaiShang]

Like India hosting Dalai Lama, Turkey is hosting Xinjiang separatist groups in its soil and still takes our money to save their butt, the Chinese government should be aware of Turkey.

It is just for making money. There is no enemy in making money. Turkey would not opt for China if other channels were not dried up.

Their relations are bad with almost everybody so, China appears to be the last resort of a country with cash.

China's various sovereign wealth funds are engaged in giving credits and are making handsome profits.

China never gives aid money. It gives credit with a higher return.

 

[Offshore]

It is just for making money. There is no enemy in making money. Turkey would not opt for China if other channels were not dried up.

Their relations are bad with almost everybody so, China appears to be the last resort of a country with cash.

China's various sovereign wealth funds are engaged in giving credits and are making handsome profits.

China never gives aid money. It gives credit with a higher return.

I bet the interest rate is 7-9 %
Thats why Chinese official have a big smile welcome this turk

 

[TaiShang]

I bet the interest rate is 7-9 %
Thats why Chinese official have a big smile welcome this turk

Definitely. It is all business for making money. Turks will likely bury that money into some building or mega project, or maybe will build a new palace for their long-awaited sultan, then they will need to borrow again to pay for the interest.

They first complain China colonizes by lending money, and then they come and borrow. Money talks...