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Akbank and the EBRD Sign a Loan Support Agreement of up to USD 90 Million for the Earthquake Disaster Area 

Akbank and the European Bank for Reconstruction and Development (EBRD) signed a loan agreement of up to USD 90 million to support the disaster area affected by the 6 February earthquakes.

Akbank has further added to its efforts to restore financial health in the earthquake zone. Within the framework of the agreement signed the EBRD, Akbank is providing up to USD 90 million of new credit to the disaster zone. This financing will be allocated to the needs of businesses and individuals in the provinces affected by the earthquake.

Francis Malige, Managing Director, Head of Financial Institutions for EBRD, said: "With this project, we continue our efforts to rebuild the economies of regions affected by the earthquakes. We are proud to provide funds to the region’s people and companies through our long-standing and excellent partner Akbank to help rebuild their businesses and lives.”

Levent Çelebioğlu, Executive Vice President of Akbank’s Corporate and Investment Banking, told: “Thanks to our cooperation with EBRD, as Akbank, we will further provide support for our customers in the earthquake region and continue to help the region to recover from the effects of the devastating earthquake.”

From the earliest moments of the 6 February earthquakes, Akbank took responsibility for the region, contributing TL 650 million to efforts to redevelop the area and rebuild lives, and providing TL 10 billion in support to its customers. At the same time, Akbank realized Turkey's first social-themed syndicated loan, providing USD 500 million support to the financing of foreign trade transactions affected by the earthquake. For the medium and long-term recovery in the region, Akbank is carrying out initiatives aim at education and social needs in addition to its financial health-oriented activities.

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