Akbank becomes the first Turkish deposit bank to secure funds from Asian Infrastructure Investment Bank
Akbank has signed an agreement with the Asian Infrastructure Investment Bank (AIIB) for a new financing of US $100 million. Konstantin Limitovskiy, AIIB Vice President, Levent Çelebioğlu, Executive Vice President for Corporate and Investment Banking at Akbank and other executives attended the signing ceremony held on August 17th. With this 7-year maturity loan, Akbank became the first Turkish deposit bank in the Turkish banking sector to secure a loan from the Asian Infrastructure Investment Bank.
“We will support our companies in the fight against the economic impact of Covid-19”
Underlining that the new financing provided will be used for the capital and liquidity needs of SMEs adversely affected by Covid-19, Levent Çelebioğlu said, “Significant progress has been made in the fight against the pandemic in the world and in our country. However, alongside the health impact of the epidemic, the economic impact has also not yet been fully restored. We believe that each single contribution to the economy is of critical importance at such an extraordinary time. With this perspective, we continue to support our real sector and economy. We are therefore delighted to bring a new fund of US $100 million with a 7-year maturity to our country with this agreement signed with the AIIB. This transaction that we have executed with a China-based international financial institution like AIIB is a reflection of Akbank’s pioneering activities in sustainability, its strong global network, its high reputation and expertise in foreign borrowing transactions. We will support our companies in the fight against the economic impact of Covid-19 with this financing. We believe it will pave the way for new employment opportunities as well as having a positive impact on the resilience of our companies against the crises. We are also proud to be the first Turkish deposit bank to secure financing from the Asian Infrastructure Investment Bank.”
“We have increased our sustainability linked funding to over US $1.7 billion”
“One of our priorities is to increase our bank’s sustainability linked funding with transactions that set benchmark for our sector. With this agreement signed with AIIB, we have increased the sustainability linked funding we have provided in the last one year to over US $1.7 billion. We will continue to work to leave a more habitable world to future generations”