Turkey’s Vakıfbank secures $140 million loan from China Exim Bank

Vakıfbank, one of Turkey’s three large state-owned banks, signed a $140-million loan deal with a one-year maturity with China Exim Bank to be used for the finance of trade between Turkey and China, state-run Anadolu Agency reported.
Vakıfbank said in a written statement that the loan deal was signed to develop relations with China Exim Bank, to diversify sources by reaching investors and finance institutions in different parts of the world, and to support its customers doing business with China.
The deal is the first transaction between Vakıfbank and China Exim Bank.