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Urban Land May Help Turkey Tap $1.5 Billion of Loans, Vatan Says

July 3 (Bloomberg) -- Urban Land Institute, a Washington-based research organization, may help Turkey tap as much as $1.5 billion of World Bank loans for projects for cheap housing, Vatan reported, citing Haluk Sur, the institute’s Turkey president.

The loans could have maturities of as much as 30 years with a 5-year grace period, Sur said, according to the Istanbul-based newspaper. The institute is ready to arrange the loan for the Turkish Treasury, the Urban Ministry and mass housing fund Toki, he said. Sur is also a member of the board of directors at Emlak Konut Gayrimenkul Yatirim Ortakligi AS, Turkey’s biggest real-estate investment company, the newspaper said.

To contact the reporter on this story: Ercan Ersoy in Istanbul at eersoy@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net

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