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| The Grand Turk |
| China refinancing big project in Turkey. Attempt to end around Turkey sanctions? |
| 2018-07-31 |
| [Asia Times] Industrial and Commercial Bank of China has received official authorization to refinance a US$2.7 billion loan for two megaprojects in Turkey, The Daily Sabah reported Monday. ICBC will provide financing for the Yavuz Sultan Selim Bridge and the Northern Marmara Highway Project, which were previously funded by the Turkish banking system from international markets. ICBC will provide more favorable terms, according to the report. The refinancing deal was signed at the One Belt, One Road Investment and Financial Cooperation Summit held in Ankara. In addition to the agreement on these two megaprojects, which represents an important milestone for the strategic cooperation between China and Turkey, Turkey’s finance minister announced ICBC will provide a US$3.6 billion loan package for Turkey’s energy and transportation sectors. |
| Posted by:3dc |
| #3 Remember: China’s $900 billion New Silk Road. |
| Posted by: Skidmark 2018-07-31 13:13 |
| #2 The refinancing deal was signed at the One Belt, One Road and One Ring To Rule Them All Investment and Financial Cooperation Summit held in Ankara. |
| Posted by: Frank G 2018-07-31 10:28 |
| #1 Granted that China's main objective is not to make money here, any more than their huge state-owned companies have making money as their main objective. But you can only throw good money after bad for so long. I suspect the Chinese will run into the inevitable economic barriers sometime soon. |
| Posted by: Tom 2018-07-31 08:32 |