Turkey seeks Chinese funds for infrastructure projects

Turkish Deputy Prime Minister Mehmet Şimşek sought Dec. 14 Chinese investment for infrastructure products in Turkey during an official visit to Beijing.

He met Yi Huiman, chairman of the Industrial and Commercial Bank of China Limited (ICBC), and other executives of the bank and briefed them about developments in Turkey’s financial sector.

He also discussed possibilities of future collaboration of the bank with Turkey.

Şimşek also held meetings with important financial institutions in China including the so-called Panda-Bond market.

Yi Huiman said he attached great importance to projects in the field of infrastructure and energy.

ICBC Turkey is the first Chinese bank that started operations in Turkey by acquiring majority shares of a local bank in May 2015.

It is the first bank to use the money swap agreement signed by central banks of both countries.

The bank, operates in 43 countries and regions with more than 17,000 branches, has 44 branches in Turkey.