5 Billion dollars credit to Gebze – İzmir Motorway | Habertürk / 06.06.2015

9 Banks consisting of the overseas branches] of 8 Turkish banks and Deutsche Bank AG London have provided around 5 billion dollars credit for Gebze – İzmir motorway project. The highest amount of credit in Turkish banking history is provided for Gebze – Orhangazi – İzmir Motorway project constructed with Build – Operate – Transfer (BOT) method. 4.9 billion dollar credit is provided with participation of 9 banks for the project, which also includes İzmit Bay Bridge. The foreign financing agreement is signed yesterday with a ceremony. With this agreement, the 2 billion dollars of previously received credit is refinanced and 9 banks consisting of the overseas branches of 8 Turkish banks and the Deutsche Bank AG London have provided 4,9 billion dollars credit for the project. During the speech he has delivered at signature ceremony, the CEO of Otoyol A.Ş. Oğuz Çarmıklı said that this is an indicator of the confidence towards the country’s entrepreneurs. The General Manager of Ziraat Bankası (Agricultural Bank) Hüseyin Aydın said “The feasibility of the project increased the appetite of the creditors. While the term was 7 years in the first credit, now we increased it to 15 years”. The Minister of Transport, Maritime Affairs and Communication Feridun Bilgin stated that the biggest credit received in Turkey until now is provided for the project.