ANNOUNCEMENT 14 Apr 2017

On 14 April 2017, the Turk Eximbank provided a loan for the construction of the Business Hotel of CICAD, Expo Center of CICAD and Diamniadio Multifunctional Sports Center (Dakar Arena) Project which will be constructed by Summa Construction Company.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Anadolu Agency, state owned news agency, “Turk Eximbank-financed Dakar Arena opens”. Available at: https://www.aa.com.tr/en/economy/turk-eximbank-financed-dakar-arena-opens/1226421

Ministry of Trade, Presentation on ICIEC and Turkey, Available at: https://ticaret.gov.tr/data/5b97b91213b8781f6048325d/ICIEC%20ve%20T%C3%BCrkiye%20Tan%C4%B1t%C4%B1m%20Sunumu.pdf

Turk Eximbank 2017 Annual Report, International Project Loans Programs. Available at: https://www.eximbank.gov.tr/content/files/f198098d-dd96-482e-b938-9a802909c5ae/annual-report-2017

Inception date: 14 Apr 2017 | Removal date: open ended

Trade finance

On 14 April 2017, the Turk Eximbank provided a loan of EUR 134 million (USD 142.2 million) for the Business Hotel of CICAD, Expo Center of CICAD and Diamniadio Multifunctional Sports Center (Dakar Arena) Project which will be constructed by Summa Insaat, a Turkey-based construction company.

For the project, Summa Construction Company signed a contract with SOGIP SA, Public Infrastructure Management Company under the Ministry of Finance and Planning of Senegal for EUR 165 million (USD 175.2 million)

The project was completed in August 2018.

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