What is the Bridge Financing for Foreign Construction Services?
We are providing financing with the purpose to decrease the negative impacts of the international financial crisis on the Turkish construction sector and to protect the current situation of the worksites and mobilisation-equipment pools of the companies in this sector and to protect the sustainability of their investments and their competitive power on this market.
Who can benefit?
The construction/consulting companies, who submit the written confirmation of the commercial counsellor/TR embassy in the respective country, that the work referring to the undertaken project is going on and whose project information/credit balance has been determined in the conclusion of the investigation of our bank, can apply on this program.
What is the purpose of this product?
This credit will be provided to construction/consulting companies, which have taken over contracts from national and/or international purchasers in the countries, in which their construction works are still going on, and who have irrevocable claims in order of these projects, which are overdue since 2008 and the years after and confirmed by the purchasers.
What is the company limit?
In the scope of the program we can provide a credit amount up to USD 25 Million. The credit amount, which will be paid to the company will be determined by our bank in consideration of the project information and the irrevocable claims, which are confirm with the article 2 of the credit code of practise and the other claims amounts, which have been documented, within the company limit.
What is the threshold?
There is no threshold in the course of the foreign construction service bridging credit program on transaction basis.
How long is the term?
The credit term is 360 days.
What does it cost?
The interest rates to be applied on the foreign construction service bridging credit will be determined by our bank in consideration of the credit term and the credit currency. The respective interest rates can be seen on our website under the category interest and dividend rates.
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