Turkey - Private Investment Credit Project

Document of The World Bank FOR OFFICIL USE ONLY Report No. P-5400-TU MEMORANDUM AND RECOMMENDATION OF THE PRESIDENT OF THE INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPRMNT TO THE EXECUTIVE DIRECTORS ON A PROPOSED LOAN IN AN AMOUNT EQUIVALENT TO US$200 MILLION TO THE REPUBLIC OF TURKEY FOR A PRIVATE INVESTMENT CREDIT PROJECT MAY 29, 1991 ihis document has a restricted distributioa and may be used by recpients only in the performance of their offiial duties. Its contents way not othervise be disclosed witut World Baok autborization.  CURRENCY EQUIVALENTS Currency Unit Turkish Lira (TL) Value of USS1.00* 1986 TL 674.5 1987 TL 857.2 1988 TL 1,422.3 1989 TL 2,121.7 1990 TL 2,629.0 May 28, 1991 TL 4,016.9 */ Arinual Average FISCAL YEAR January 1 - December 31 GLOSSARY OF ABBREVIATIONS FERIS Foreign Exchange Risk Insurance Scheme FSAL II Second Financial Sector Adjustment Loan GDP Gross Domestic Product GOT Government of Turkey IEDP Industrial Export Development Project LI-OR London Inter-Bank Offered Rate OECD Organization for Economic Cooperation and Development PFI Participating Financial Institution SYKB Sinai Yatirim ve Kreai Bankasi TL Turkish Lira TSKB Turkiye Sinai Kalkinma Bankasi  FOR OFFICIAL US ONLY PRIVAT INSMENT CREiT PROEC Loan and Projlet Summa= XOrXOWQ