The European Investment Bank (EIB) has agreed to loans totaling €885 million ($1.2 billion) for Turkey. The Turkish government will receive €335 million for 2009–2010 to help finance R&D at the nation’s 15 leading public universities. The funding will also be used to purchase scientific instruments for the universities. Small- and medium-sized enterprises in the county will receive €400 million in loans from three EIB-partner Turkish banks, TSKB, TKB and Vakifbank, as well as Halkbank, which has initially contributed €150 million of its €300 million commitment.

Source: EIB

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