Eximbank to loan Egypt $250mn for defense

Turkish deputy premier said the credit line is aimed at supporting Turkey's defense exports

Eximbank to loan Egypt $250mn for defense

World Bulletin/News Desk

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.  

Last Mod: 20 Mayıs 2013, 16:14
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