Financial and Banking News

AID FLOWS

IDB Signs Four Credit Agreements with Turkey 

The Islamic Development Bank (IDB) signed the following four credit agreements, worth a total of $71.2mn, with Turkey on 15 November:

- A $25mn loan at 6% interest, with repayment over 8.5 years including a 2.5 year grace period, to finance oil imports from Iraq.

- An interest free loan of $15.7mn to be repaid over 8.5 years, including a 2.5 year grace period, to part finance the Ipras-Haramidere oil...