KfW IPEX-Bank: Financing of Austrian exports to Türkiye

• Financing for Türk Eximbank with OeKB export credit insurance
• Supporting Austrian exporters as part of the European economy

KfW IPEX-Bank is providing a loan of EUR 200 million in the form of a shopping line to Türkiye's state export credit agency, Türk Eximbank. The loan is covered by the Austrian export credit agency OeKB. The funds are used to finance Austrian exports to Türkiye. This cover also includes supplies from other countries, such as Germany.

Dr Velibor Marjanovic, member of the Management Board of KfW IPEX-Bank, said: "This transaction underlines our commitment to the free movement of goods and services within Europe. In close and trusting cooperation with two of our most important export credit insurers in Europe, we are contributing to supporting the European export industry as a whole."

Türk Eximbank CEO Ali Güney stated; “We are pleased to announce that Türk Eximbank, the sole official Export Credit Agency of Türkiye, has secured a 10-year financing facility of 200 million Euros from KfW IPEX-Bank under the insurance of Austria's official export credit agency, OeKB. This long-term, strong financial support, which we will offer to our exporters, is also expected to make a significant contribution to the increase of trade relations between Türkiye and Austria.

Helmut Bernkopf, Member of the Board of Executive Directors of OeKB in charge of Export Services: “In recent years, Türkiye has developed into an important market for Austria's export industry and thus also for OeKB, and it continues to offer great potential due to its dynamic development. We already concluded a cooperation agreement with Türk Eximbank at the beginning of 2021 with the aim of enabling more business opportunities for Austrian suppliers with general contractors from Türkiye. I am therefore very pleased that we are now taking another important step together with this innovative shopping line. In this way, we can facilitate access to a growth market for small and medium-sized enterprises in particular, and we have already had very positive experiences with this in many countries."