Turkish state-owned lender Ziraat Bank announced Monday it received a $500 million (TL 14.9 billion) loan from the Export-Import Bank of China (China Eximbank).

According to the statement from Ziraat Bank, the two-tranche financing deal with a three-year maturity with China Eximbank, including $400 million and 700 million Chinese yuan ($98.57 million), aims to help Türkiye and China boost bilateral trade volume.

"Our bank will continue to contribute and generate economic value to all sectors that are a priority for the development of Türkiye, especially our exporters, with the funding obtained from the loan agreement, which also includes the local currency tranche," read the statement.

"With the steps it has taken in recent years, our bank continues to implement its strategy of deepening and diversifying foreign financing by maintaining close cooperation with international financial institutions."

"Our support to the Turkish economy, which is developing and strengthening the policies implemented in our country and the increasing credibility environment, will continue with determination in the coming period in line with the responsible, effective and sustainable banking approach," the statement said.