Agreement On U.S. Loan Expected To Be Signed In Dubai

WASHINGTON D.C. - The agreement on 8.5 billion dollars of loan is expected to be signed between Turkey and the U.S. during the meeting of IMF and World Bank in Dubai between 23-24 September.
Turkish sources in Washington D.C. told A.A correspondent on Thursday that they targeted to sign the agreement in Dubai. If this comes true, U.S. Secretary of Treasury John Snow and State Minister Ali Babacan are expected to sign the agreement.
The approval of U.S. administration to the loan was submitted to the U.S. Congress by U.S. State Department with a letter dated Sept. 5. When the legal waiting period for the loan in the U.S. Congress ends on Sept. 20, there will be no legal obstacles left for signing of the agreement. American sources said that the 8.5 billion dollars loan would be disbursed in four equal tranches over a period of 18 months.
(Öª) 12.09.2003