Turkey And World Bank Reach Compromise On Cas Loan Worth Of $4.5 Billion

ANKARA - Turkey and World Bank reached compromise on Country Assistance Strategy (CAS) loan worth of 4.5 billion U.S. dollars that Turkey will use between 2004 and 2006.
Sources told the A.A correspondent on Tuesday that Turkey would fulfil things which should be done till the end of the year at the latest and stated that World Bank Executive Board was expected to convene in mid-November and approve the CAS loan.
Turkey and World Bank needed to reach compromise on the issue by November for World Bank Executive Board to convene. Sources said that as a compromise was reached, a delegation that was earlier expected to be sent by the Bank to Turkey would not come to the country.
The Bank will release CAS loan as a result of projects and programs which will be put into practice by Turkey.
A total of 1 billion U.S. dollars of the loan is expected to be used by private sector with the guaranty of Treasury.
Remaining part of the loan will be used as program and project loan.
(EÖ-AÖ) 28.10.2003