EU Bank Lends Turkey $92M For Shipping Port Construction

Law360, New York (December 16, 2013, 6:43 PM EST) -- The European Bank for Reconstruction and Development said Monday it was providing Turkey a $92 million loan for construction of the country’s first transshipment container terminal, enabling cargo transport across the Bosphorus Strait, in an effort to sustain Turkey’s strong economic growth.

The loan will be used to design, build, operate and maintain a container terminal called AsyaPort a little more than 80 miles west of Istanbul, the EBRD said. The International Finance Corp. will also contribute $69 million in parallel loans, with Turkiye Is Bankasi...
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