For the 1915Çanakkale Bridge and Motorway Project, finance agreements were signed with 25 financial institutions from 10 countries on 16 March 2018, securing a 15 year term loan with a grace period of 5 years, for a total sum of 2.265 billion EUR. %70 of the loan was provided by 19 foreign banks and financial institutions, and %30 by Turkish banks.
The credit package, which is structured in accordance with the international project financing standards, is composed of eight different tranches including Export Credit Agencies (ECA’s) and Islamic financing methods. The Korean export credit agency Korea Eximbank (KEXIM) and Korea Trade Insurance Corporation (K-SURE) participated in the financing with a loan of 1 billion EUR in cash and guarantees which is the largest credit package ever received by a project in Turkey. Among other organizations that have provided cover are the Danish export credit agency EKF and The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) which is affiliated to the Islamic Development Bank (IDB).
The government institutions and 25 banks and finance institutions taking part in the financing of the project are as follows:
Mandated Lead Arrangers