Turkey’s Garanti Loaned $400 Million by U.S. Development Bank
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Turkiye Garanti Bankasi AS, Turkey’s biggest bank by market value, borrowed $400 million from the Overseas Private Investment Corporation, the development-finance arm of the U.S. government.
The loan is over a 14-year period and will be used to finance small-and-medium sized enterprises, the Istanbul-based lender said in a filing today.