Posted by meb at September 8th, 2008

An agreement concluded between the European Investment Bank (EIB) and the Turkish Republic and ratified on June 3 by Parliament officially come into effect yesterday after being published in the Official Gazette, enabling the EIB to open branches and representative offices in Turkey.

The EIB has a special mission of extending favorable loans to support investment in European countries and in countries that are involved in the EU accession process. The bank can provide loans with repayment terms starting up to eight years after disbursement of funds and terms extending up to 30 years.

With the agreement, the Turkish government is allowing the EIB to open two major offices, one in İstanbul and one in Ankara, and several representative offices connected to these main offices. The EIB will be able to invest in securities and real estate, to strike deals and make contracts with businesses as well as sell property.
source: Today’s Zaman

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