French Development Institution (Proparco) Cooperation Package
French Development Institution Proparco (Société De Promotion Et De Participation Pour La Coopération Economique S.A.) has signed its first credit agreement in Turkey with .
Upon successful placement of credits worth 20 million Euros, the first tranche of the credit facility that has been made available within the framework of the agreement, a second tranche worth another 20 million Euros has been provided to help meet the long-term financing needs of small and medium size enterprises operating in Turkey.
This agreement allows businesses to receive a loan with a maturity of up to 5 years for their long-term investments, on a project basis. They can also take advantage of the grace period, which is ¼ of the length of maturity, before they start repaying the principal.