World Bank delegation finalizes $500 million loan to Turkey
A World Bank (WB) delegation is currently completing a review of Turkey’s economy in order to secure a $500 million loan under its Financial Restructuring Framework Agreement. The delegation arrived in Turkey at the beginning of the month and are expected have the loan documents prepared by September, reported Anatolia.
The funds will be used to help companies in financial trouble to reschedule their debts. The WB approved a $1.35 billion Financial and Public Sector Adjustment Loan in March for the Republic. The loan helped Turkey implement the next phase of its reform program and ensure that social programs were adequately funded. — (menareport.com)
© 2002 Mena Report (www.menareport.com)