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Ex-Im Bank Business Development Staff Brian Sant Angelo U.S. Government Contacts in Turkey U.S. Embassy - Ankara The U.S. Commercial Service Turkey offers valuable assistance to help U.S. business to export goods and services to Turkey. The Commercial Service's trade specialists can help you identify trade opportunities, find local trading partners, counsel your company, and prepare market research reports and provide advocacy. The American Chamber of Commerce in Turkey (The Turkish American Business Association)
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Ex-Im Bank Opportunities in Turkey
Ex-Im Bank has actively supported the development of Turkey's power generation sector by helping to finance the construction of traditional and auto-generation facilities. Turkish power companies have used Ex-Im Bank long-term loan guarantees (link) and project finance (link) structures to help meet the rapidly growing demand for electricity in Turkey.
Ex-Im Bank has authorized over $1.5 billion in the energy sector. Recent power projects include:
- Trakya BOT $475.0 million
- Gebze $334.0 million
- Adapazari $189.0 million
- Izmir $331.0 million
- Ankara $90.0 million
The Trakya BOT was structured on a build-operate-transfer (BOT) basis whereby the owners of the power plant transfer title of the company after a specified period of time. Prime Minister Turgut Ozal encouraged BOT structures in the mid-80's to draw foreign investment into the country. Since then, the Turkish government has leaned more towards build-own-operate (BOO) financing structures. The four other projects listed (Adapazari, Gebze, Izmir, Ankara) are structured on a build-own-operate model. BOO's are very similar to BOT's except that under a BOO structure the investors own the power plants and are not required to transfer title at the end of their contracts with the government.
Investment in power sector infrastructure has slowed in recent years as the government is working on ways to liberalize the electricity sector. The Turkish government is unwilling to take on further debt to finance power plants and would like to see private investment fill this gap. In recent years Ex-Im Bank has seen increased activity from private auto-producers of energy. Auto-producers are private companies who generate electricity mainly for industries. Ex-Im Bank has authorized $200 million of financing to auto-producers thus far. Auto-producers purchase turbines ranging from 30 MW to 150 MW.
Municipal Infrastructure Finance
Ex-Im Bank is in the process of expanding its sub-sovereign lending initiative to allow a broader range of local and regional governments to access financing for transportation, telecommunications, water, wastewater-treatment, health-care, energy, and other types of infrastructure projects.
Ex-Im Bank offers financing support to foreign purchasers of new and used U.S.-manufactured commercial and general aviation aircraft, including helicopters, under its direct loan, guarantee, and insurance programs. The Sector Understanding on Export Credits for Civil Aircraft (OECD Aircraft Sector Understanding) governs the terms and conditions of Ex-Im Bank's financing support for aircraft. Ex-Im Bank also offers financing support to foreign purchasers of new and used U.S.-manufactured commercial and general railroad .
The Medical Equipment Initiative (MEI) offers solutions to increase the export of medical from U.S. companies to foreign borrowers that would likely not forward without Ex-Im Bank support. The MEI includes creative financing structures and enhanced coverage for newly established companies that lack the operating history or financial history necessary to meet our normal credit standards. These financing solutions may include local cost coverage for up to 15% of the U.S. contract value, extended repayment terms and the capitalization of interest during construction. To help determine if your company is a candidate for the MEI, please refer to the guidelines for submitting applications for the Medical Equipment Initiative.
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