Announcement of Twenty-Five Million US Dollars for Private Enterprise Financing on May 10, 1976

International Finance Corporation 1818 H Street, NW Washington, D.C. 20433, U.S.A • 202-393-6360 IFC Press Release No. 76/6 Monday, May 10, 1976 $25 Million for Turkey Private Enterprise Financing The International Finance Corporation (IFC), an affiliate of the World Bank, is being joined by United States, Belgian and German institutions in making a $25 million loan to Turkiye Sinai Kalkinma Bankasi A.S., Turkey's leading development finance company. IFC is retaining $5 million of the loan for its own account with participations in the balance being taken up by Citibank, N.A., Bahrein; Compagnie Financiere de la Deutsche Bank, A.G., Luxembourg; and Societe • Generale de Banque, Brussels. The loan is the most recent of eight IFC investments in Turkiye Sinai Kalkinma Bankasi and reflects its continuing efforts to assist the development finance company in resource mobilization in the international capital markets. Operations of the Turkish institution, which assists private enterprise projects, are expected t~ triple over the next four years as the economy expands. (Any inquiries strictly relating to IFC's participation in this project should be directed to the IFC Business Relations Unit, 1818 H Street, N.W., Washington D.C. 20433, Telephone (202) 477-5770) . •