Turkish Eximbank to loan Egypt $250m for defence purchases
Ankara - Anadolu
Turkish Deputy Prime Minister for economy Ali Babacan said Monday Turkey was set to provide a credit line worth of $250 million for the Egyptian government via the Turkish Eximbank to be used in defense purchases. Babacan said the loan was aimed at supporting exports of the Turkish defense industry, adding that loan was an extra to a previously-agreed sum of $1 billion destined for the Egyptian government. Babacan said a cooperation agreement had been penned between Turkey's Undersecretariat for Defense Industries and the Turkish Eximbank last week.
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