June 5, 2020 / 4:03 PM / a month ago

Turkish cenbank decides to reallocate part of rediscount credits

ISTANBUL, June 5 (Reuters) - The Turkish Central Bank said on Friday it will reallocate 20 billion lira ($2.95 billion) of a previously disclosed 60 billion lira rediscount credit facility as advance loans against investment commitment.

The loans, aiming to contain adverse effects of the coronavirus on the economy, will be extended through development and investment banks with a fixed rate and a maximum maturity of 10 years, the bank said. ($1 = 6.7822 liras) (Writing by Ezgi Erkoyun Editing by Daren Butler)

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