ANNOUNCEMENT 04 May 2010

Turk Eximbank provided financing for the reconstruction project of the Oktyabrskaya Hotel in Belarus.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Belarus Bureau Prime-Tass, (4.5.2010), “Turkish co wins tender to reconstruct Oktyabrskaya Hotel, contract value $59.985 mln”. Available at: http://www.prime-tass.by/english/News/show.asp?id=81098

Turk Eximbank, Sample Transactions, “Republic of Belarus – Oktyabrskaya Hotel Project”. Available at: https://www.eximbank.gov.tr/en/product-and-services/buyer-s-credits/sample-transactions#international-project-loans

Inception date: 04 May 2010 | Removal date: open ended

Trade finance

Turk Eximbank provided financing for the reconstruction project of the Oktyabrskaya Hotel in Belarus. On 4 May 2010, Emsas Insaat, a Turkey-based construction company, won the tender for the reconstruction of the Oktyabrskaya Hotel for USD 60 million. For the project, Turk Eximbank provided a loan of USD 51 million.

With the completion of the project, the Oktyabrskaya Hotel will be upgraded to a 5-star hotel. Within the scope of the project, apart from the renovation works, a swimming pool and a sports center, meeting rooms, and restaurants will be constructed.

AFFECTED SECTORS

 

AFFECTED PRODUCTS

 
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