EDC Loans 20 Million to Turkey's Dogus Holdings

News Release

(OTTAWA) September 12, 2007 Export Development Canada (EDC) announced today that it has loaned USD 20 million towards a USD 300 million corporate facility for Dogus Holding A.S. (Dogus), a Turkish-based consortium with a wide array of business interests.
"Dogus Holding is an important player in Turkey, in addition to key European and emerging markets, and has a consistent track record in working with Canadian suppliers," said Eric Siegel, President and CEO of EDC. "EDC's participation in this corporate loan facility will look to build upon this positive history to help grow Canadian exports into Turkey in the construction and transportation sectors."
Turkey is Canada's 12th largest trading partner among emerging markets and a key strategic market for EDC. Overall, Canadian exports to Turkey doubled between 2003 and 2006 when it reached a high of CAD 520 million. In 2006 EDC facilitated $467 million of business in Turkey, a dramatic 25 per cent increase over 2005.
Dogus will use the corporate facility to support the trade finance requirements of its subsidiaries.
About Dogus Holding A.S.
Dogus Group is one of the largest conglomerates in Turkey with a vision to become a regional leader in the service sector. Dogus Group is active in five sectors with high growth potential, namely finance, automotive, construction, tourism and media. With over 16 thousand workers serving more than 6 million customers, the Group uses its dynamic human resources and superior technological capital to create brand value that ensures customer loyalty. The Dogus Group seeks leadership in its chosen core activities by developing synergies amongst the Group's divisions as well as through global partnerships.
About EDC
EDC is Canada's export credit agency, offering innovative commercial solutions to help Canadian exporters and investors expand their international business. EDC's knowledge and partnerships are used by 6,400 Canadian companies and their global customers in up to 200 markets worldwide each year. EDC is financially self-sustaining and is a recognized leader in financial reporting, economic analysis and has been named one of Canada's Top 100 Employers for six consecutive years.
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Media contact:
Phil Taylor Public Affairs Export Development Canada (613) 598-2904 ptaylor@edc.ca

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EDC Loans 20 Million to Turkey's Dogus Holdings

News Release

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