Turkey's Eximbank to provide $79 mln reinsurance to UK counterpart - report

The guarantee amount is in proportion to the value of Turkish exports and services planned to be used in the first phase of the energy projects in Iraq, Daily Sabah quoted quoting Turkish trade minister Ruhsar Pekcan as saying on Monday.

The projects, in which several Turkish firms were also included, envisage the construction of power plants of 750 MW net generating capacity each, Pekcan added.

In 2017, Eximbank and UKEF signed an agreement to boost commercial cooperation and increase investment between Turkey and the UK. Under the agreement, the two agencies can co-finance projects in third countries.

($ = 0.8879 euro)