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Saturday, January 01, 2011

Turkey agrees loans worth 2.19 bln euros for submarines

Turkey has signed loan deals worth 2.19 billion euros ($2.9 billion) to finance the production of six submarines in Turkey, the Treasury said in a statement on Friday.

An export credit agreement worth 1.88 billion euros was signed by a consortium of banks led by Bayerische Landesbank and a commercial loan agreement worth 309 million euros was signed with a consortium led by WestLB.

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