COE Development Bank makes credit agreement with Turkey

The third leg of a comprehensive credit agreement for Turkish small and mid-size businesses has been signed by Turkish authorities with the Council of Europe Development Bank (AKKB). The credit worth of 42.3 million Euro is intended to assist Turkish businesses.A Turkish council of ministers decision pertaining to the European credit has been published in the Turkish Official Gazette today.According to the agreement signed between the Turkish Republic and the European Union, almost fifty percent of the EU credit will be utilized by the Turkish Development Bank while the rest will be provided to the Turkish Foundations Bank.    Â