Bank of Turkey

In a new joint transaction, the European Bank for Reconstruction and Development (EBRD) and the Industrial Development Bank of Turkey (TSKB) are providing 0.9 million euros of working capital to Ukinox, a dynamic manufacturer of kitchen sinks and built-in kitchen appliances in Turkey, the EBRD said in a statement on Aug. 10. 

The Industrial Development Bank of Turkey (TSKB) has committed to fund around $3.5 billion out of a total of $9.1 billion to initiate over 5 gigawatts of clean energy installed capacity in Turkey, a bank representative said on May 22.        

A total of 128,923 properties were sold across Turkey in March, marking a 10 percent year-on-year increase due to cheaper loans and tax incentives. 

Data from the Turkish Statistics Institute (TÜİK) showed on April 24 that the mortgaged sales amounted to 50,424 units in March with a 30 percent increase compared to the same month of 2016. 

Moody's Investors Service has taken rating actions on 17 Turkish banks, changing the ratings outlook from stable to negative on 14 of the lenders.

The ratings of one additional bank were also downgraded with a negative outlook, while the ratings of two other banks were affirmed with outlooks unchanged.

"My husband does not want me to work," the wife of a religiously conservative man complained to her psychologist. "He insisted I see a women psychologist," she added. Then as the psychologist raised her eyebrow she realized her husband's inner contradiction: A pious man who disapproves of women working but insists on his wife seeing only a woman professional! 

The European Bank for Reconstruction and Development (EBRD) and the Industrial Development Bank of Turkey (TSKB) will jointly provide 6 million euros ($6.3 million) of financing to a major Turkish flour producer, the EBRD said Feb. 20.        

The Turkish cabinet issued a long-waited "attraction area program" on Nov. 28, 2016, covering 23 provinces in eastern and southeastern Anatolian regions. Applications to the Development Bank of Turkey and local development agencies for the incentives offered by the program began on Jan. 24.  

Turkey and Tanzania have signed nine agreements in defense, economic development, and health during a visit by Turkish President Recep Tayyip Erdoğan to the East African country, according to Anadolu Agency.

Erdoğan, accompanied by several Turkish officials and trade representatives, met his Tanzanian counterpart, John Magufuli, at the country's Presidential Palace.        

The World Bank's Board of Directors on Nov. 1 approved an IBRD loan of $250 million and a Clean Technology Fund Grant of $39.8 million for the Geothermal Development Project in Turkey, which will help create renewable energy by tapping heat sources deep in the ground, said the organization in a written statement on Nov. 2. 

Turkey's Zorlu Energy has signed $815 million in loans with four banks to refinance the existing debts of its Zorlu Do?al Elekrik Üretim and finance its planned geothermal power plant project in Denizli, the company announced in a statement to the Public Disclosure Platform (KAP) on Oct. 27.