Turkey Gives Banks $3.7 Billion Lending Boost to Spur Growth
By Ercan Ersoy
April 25, 2019, 4:37 AM EDT Updated on April 25, 2019, 7:11 AM EDT
Sovereign wealth fund buys debt issued by government lenders
President Erdogan is seeking to rekindle growth with credit
Turkey’s sovereign wealth fund bolstered the capital ratios of five state-owned banks by 3.3 billion euros ($3.7 billion) in a bid to keep credit flowing in the recession-hit economy.
More:Turkey Gives Banks $3.7 Billion Lending Boost to Spur Growth - Bloomberg