JBIC negotiates loan with Turkey’s water authority
The Japan Bank for Regional Cooperation (JBIC) is now in the final stages of negotiating its role in a planned drinking water project in Ankara, Turkey. The Turkish State Water Works (DSI) is hoping to receive $300 million from JBIC, reported the Star.
JBIC loaned Turkey $214 million in 2000 to co-finance the rehabilitation of the country's small and medium sized enterprises (SME), including Japanese affiliates, that mainly suffered a serious blow from the earthquake that devastated western Turkey in 1999.
The bank’s international loans usually come in the form of Official Development Assistance (ODA). ODA’s are administered with promotion of economic development and welfare of developing countries as its main objective and concessional in character to avoid severe burdens on developing countries, conveying a grant element of at least 25 percent. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
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