VakıfBank and ING Germany Secure €200 Million SACE-Guaranteed Loan
VakıfBank has secured €200 million in 10-year funding from ING Germany under a SACE guarantee to be used in foreign trade financing.
VakıfBank has obtained €200 million in financing with a 10-year maturity from ING Germany, backed by a 95 percent guarantee from SACE. This new funding aims to meet the financing needs of customers engaged in foreign trade with Italy.
Purpose and Details of the Financing
With the €200 million funding secured from ING Germany under a 95 percent guarantee from SACE, the aim is to meet the financing needs of customers conducting foreign trade transactions with Italy.
Contribution to Foreign Trade and Trade Volume
The transaction is planned to support access to foreign trade financing while also contributing to the trade volume between Turkey and Italy.
VakıfBank's International Funding Acquisition
VakıfBank General Manager Osman Arslan stated that since the beginning of the year, they have secured a total of $2 billion in new funding under the guarantees of international institutions such as OeKB, IBRD, and MIGA.
Total Funding Amount for 2026
Osman Arslan noted that with the €200 million financing provided by ING Germany under the guarantee of Italy's official export credit agency SACE, the total amount of new resources obtained from abroad within 2026 has reached $9 billion.
SACE's Strategic Approach
Ciro Aquino, Regional Director for Africa, Turkey, and the Middle East on behalf of project guarantor SACE, stated that this transaction is a concrete example of SACE's commitment to supporting the growth of Italian companies in international markets.
ING Germany's Statement of Support
Tiziano Tallarida, Structured Finance Director at project lender ING Germany, expressed satisfaction in supporting the transaction, which was structured in line with VakıfBank's long-term financing needs.