Anadolu Agency: News in English, 00-08-18

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ANADOLU AGENCY

NEWS

18 AUGUST 2000

Friday

CONTENTS

[01] TURKEY-PRESS SCAN

[02] GREENPEACE STARTS PROTEST IN ALIAGA PETKIM

[03] SOUTHEAST EXPORTS 19.9 MILLION U.S. DOLLAR DRIED APRICOT IN SEVEN MONTHS

[04] ONE OF DEMONSTRATORS TAKEN INTO CUSTODY IN ALIAGA

[05] SEVEN GREENPEACE DEMONSTRATORS TAKEN INTO CUSTODY

[06] FOREIGN MINISTRY EVALUATES LIBYA VISIT AS SUCCESSFUL

[07] ERDAL GOES ON HUNGER STRIKE AGAIN

[08] GENDARME FORCES CAPTURE 126 IRAQIS AND 19 IRANIANS IN VAN PROVINCE

[09] FIRST ANNIVERSARY OF DEVASTATING EARTHQUAKE -ENERGY AND NATURAL RESOURCES MINISTRY SPENDS 24.5 TRILLION TL

[10] LOAN TO IZMIR NATURAL GAS PIPELINE

[11] PROJECTS FOR BALKAN COUNTRIES -STATE MINISTER CAY: ''TICA WILL CARRY OUT SEVERAL PROJECTS IN BALKAN COUNTRIES FROM JULY 2000 TILL 2001''

[12] 69TH INTERNATIONAL IZMIR FAIR -HEPSENKAL, DIRECTOR GENERAL OF IZFAS: - ''NEARLY 700 FIRM INCLUDING 329 FOREIGN FIRMS WILL TAKE PART IN THIS YEAR'S FAIR''

[13] FOUNDATION OF WASTE WATER PURIFICATION PLANT IN KAYSERI TO BE LAID ON SEPTEMBER 18

[14] 1,800 MHZ GSM NETWORK CONTRACT -DRAFT CONTRACT SENT TO COUNCIL OF STATE

[15] BAKU-CEYHAN OIL PIPELINE -SOCAR SENDS LETTER OF BONA FIDE

[16] BUDGETARY PERFORMANCE IN FIRST SEVEN MONTHS OF 2000

[17] GERMAN-TURKISH SOCIETY REQUESTS GERMANY TO ESTABLISH FOUNDATION FOR STRUGGLE AGAINST XENOPHOBIA

[18] KOUCHNER, CHAIRMAN OF UNITED NATIONS MISSION IN KOSOVO: -''OFFICES OF AN ETHNIC TURKISH POLITICAL PARTY HAVE BEEN AMONG THOSE MOST BADLY DAMAGED IN EXPLOSION''

[19] BHADRAKUMAR, INDIAN AMBASSADOR TO TURKEY: -''WE ATTRIBUTE GREAT IMPORTANCE TO HISTORY OF RELATIONS BETWEEN TURKEY AND INDIA''

[20] AUSTRALIAN AMBASSADOR TO TURKEY FORSYTH: ''TURKISH ECONOMY IS IN GOOD PATH''

[21] FIRST ANNIVERSARY OF DEVASTATING EARTHQUAKE -PUBLIC WORKS AND HOUSING MINISTER AYDIN: -''WE THANK REPRESENTATIVES OF 74 COUNTRIES THAT RUSHED TO HELP TURKEY''

[22] FIRST ANNIVERSARY OF DEVASTATING EARTHQUAKE -FOREIGN MINISTRY THANKS INTERNATIONAL COMMUNITY

[23] AGREEMENT ON 500 MILLION U.S. DOLLARS SYNDICATED LOAN TO IS BANKASI SIGNED IN LONDON

[01] TURKEY-PRESS SCAN

HURRIYET (LIBERAL)

FOREING MINISTRY APPROVES OPENING OF IMF OFFICE
The Foreign Ministry approved the opening of an IMF ''office'' in Turkey which will monitor the IMF's stand-by agreement. IMF representative Odd Per Brekk will be working in this bureau. When Carlo Cottarelli had announced beginning of this year that the IMF was planning to open a bureau in Turkey, Prime Minister Bulent Ecevit had reacted strongly to the idea. The crisis was resolved with a formula which turned the bureau to an ''office.''

MILLIYET (LIBERAL)

ONE MORE PICASSO IN SURUC
A painting of famous painter Picasso was seized in Suruc township of southeastern Sanliurfa province. Picasso's painting titled ''The Portrait of Young Women'' which was stolen from Kuwait Museum by an Iraqi officer during the occupation of Kuwait in 1990, was worth of 100 million U.S. dollars. Five people were taken into custody and two people are wanted by police.

SABAH (LIBERAL)

KASTAMONU ROCKED
A minor earthquake shook Kastamonu province in the Black Sea Region. The Kandilli Observatory Center and Seismology Institute said that the epicenter of the quake was south of Kastamonu and the quake had a magnitude of 4.0 on the Richter scale. The quake was also felt in surrounding provinces but it did not lead to any damages.

CUMHURIYET (LEFT)

SEVEN WONDERS OF WORLD
Urgup Mayor Bekir Odemis requested Cappadocia, where Fairy Chimneys and the houses and churches carved in the rocks are situated, to be shown as a candidate for new seven wonders of the world. Odemis said that the United Nations Educational, Scientific and Cultural Organization (UNESCO) announced Cappadocia as the ''World Cultural Heritage'' in 1986. Odemis launched an initiative to make Cappadocia be included among the new seven wonders of the world candidates.

FLIGHTS TO BOSNIA-HERZEGOVINA
A total of 12 planes which travel between Corlu Airport of northwestern Tekirdag province and Bosnia-Herzegovina for three months, land at and took off Corlu Airport every day. These planes carry 780 passengers a day.

RADIKAL (LEFT)

NATIONAL DAY OF TURKEY TO BE CELEBRATED AT EXPO 2000 FAIR
''Turkey National Day'' will be celebrated at Expo 2000 Fair in Hannover, Germany on August 19. Every country that is participating in the fair is given a day to celebrate their national days. Deputy Prime Minister Mesut Yilmaz and Tourism Minister Erkan Mumcu will also attend Turkey's National Day at the fair. The national day will start by folklore show.

YENİ BİNYIL (LIBERAL)

FINANCIAL TIMES ARTICLE SAYS STABILITY PROGRAMME WILL CHANGE
RELATIONS BETWEEN GOVERNMENT AND FIRMS
A leading economy newspaper Financial Times said unhealthy relations between the government and firms have to change as a result of the economic reforms that are implemented in Turkey. The article said big holdings have been able to grow through good relations with the state. ''The firms will either change or shrink,'' it was stated. Government's stability programme and the EU membership are two threats that the Turkish firms are facing, it was stated. If the inflation is pulled down to one digit numbers, the firms will have to focus more on their financial structures and they will compete better in an environment where there is no inflation. Share holders will profit from this situation, the article said. The Turkish firms also started feeling more competitive pressure after Turkey's EU membership was approved, the article said.

TURKIYE (RIGHT)

SEZER STUDIES DECREE
The uncertainty continues about the decree having the power of law (KHK) after Prime Minister Bulent Ecevit and President Ahmet Necdet Sezer had a meeting at the Presidential Palace on Wednesday. Sezer who is studying the decree carefully asked the parliament to provide him with information about the implementation of previous KHKs. Sezer said he had no objection to the content of the decree, however he finds it against the Constitution due to the procedures. There are rumours that Sezer would send the decree one more time without signing. Sezer will not take an action before August 23 when the National Security Council will convene.

ZAMAN (CONSERVATIVE)

[02] GREENPEACE STARTS PROTEST IN ALIAGA PETKIM

The ship of the environmentalist organization entered secretly in the Petkim Harbour.

Members of Greenpeace tried to open a banner in a plant which provides energy for Petkim.

The Greenpeace demonstrators who left the ship with boats blocked the Petkim Harbour and tried to prevent the entrance and exit of other vessels.

Meanwhile, a ferryboat belonging to Petkim sprayed water over the demonstrators.

Also, a coast guard boat arrived in the coast where the demonstrators stage their protest.

[03] SOUTHEAST EXPORTS 19.9 MILLION U.S. DOLLAR DRIED APRICOT IN SEVEN MONTHS

The exports decreased 16.1 percent when compared with the same period in 1999.

The region materialized 23 million 768 thousand U.S. dollar dried apricot exports in first seven months of 1999.

The Southeastern Anatolia Region exported 10 thousand 629 tons of dried apricot in the first seven months of 2000 while it exported 11 thousand 281 tons last year.

In accordance with the figures of the Southeastern Anatolia Exporters Union, the U.S., France, Britain, Israel, Australia, Germany, Italy, Romania and Saudi Arabia were among the countries where the dried apricots were exported between January and July 2000.

[04] ONE OF DEMONSTRATORS TAKEN INTO CUSTODY IN ALIAGA

One of the demonstrators was taken into custody while the coast guard teams confiscated one of the boats of the Greenpeace.

Meanwhile, a ferryboat belonging to Petkim, tied Greenpeace's ship to itself by a rope.

The ferryboat which sprayed water to the ship, started to pull the ship at the same time.

The demonstrators locked themselves in the bridge of the ship.

[05] SEVEN GREENPEACE DEMONSTRATORS TAKEN INTO CUSTODY

The coast guards persuaded British captain John Castel to get out of the bridge of the ship where the demonstrators locked them.

Castel and Tolga Temuge, an official of the Greenpeace responsible for Mediterranean Office Toxic Materials Campaign, left the ship by a coast guard boat and were taken to the coast by the coast guards.

Meanwhile, four Turkish demonstrators who tried to open a banner in the energy power station of Petkim, were taken into custody.

Thus, the number of detainees rose to seven.

Before he was taken to the coast by coast guards, Temuge told reporters that the Greenpeace has concerns about especially the chloride which leaks out of Petkim during the production of polyvinyl chloride (PVC) and combustion of hazardous wastes.

Temuge said that the Petkim pollutes the environment and is dangerous for the health of workers and people living in Aliaga.

Meanwhile, the ship of the Greenpeace demonstrators is pulled by a ferryboat belonging to Petkim towards the Nemrut Gulf.

[06] FOREIGN MINISTRY EVALUATES LIBYA VISIT AS SUCCESSFUL

Diplomatic sources said on Friday that Libyan President Moammar Gadhafi sent a good will and friendship message to President Ahmet Necdet Sezer and that also, Libya invited Premier Bulent Ecevit and Foreign Minister Ismail Cem.

The diplomatic sources noted that these are important steps taken to overcome problems faced in relations between the two countries.

Foreign Minister Cem and his Libyan counterpart Abdel Rahman Mohammad Shalgham are expected to come together in the Millenium Summit of the United Nations (U.N.) in September. The date of Cem's Tripoli visit is expected to be fixed during this meeting.

Turkey-Libya relations entered into a very sensitive period after Necmettin Erbakan, the prime minister then, had visited this country in October 1996.

As a result of harsh statements of two countries, Turkey called back its Tripoli Ambassador on June 13, 1997. Turkey re-sent an ambassador to Tripoli in February 1998.

The visit of Friendship Group was important since it was the first political visit following the last visit paid by Erbakan.

The group included Gonul Saray Alphan, a deputy of the Democratic Left Party (DSP), Osman Muderrisoglu, a deputy of the Nationalist Movement Party (MHP), Celal Esin, a deputy of the Motherland Party (ANAP), Sevgi Esen, a deputy of the True Path Party (DYP), and Mukadder Basegmez, a deputy of the Virtue Party (FP).

[07] ERDAL GOES ON HUNGER STRIKE AGAIN

Van Mele noted that the terrorist DHKP-C organization accused the Belgian government of announcing the secret place where Erdal is staying.

Meanwhile, reliable sources said that the place where Erdal is staying was revealed as one of members of terrorist organization leaked out information to Turkish press.

Erdal is staying in a house in Charleroi, Belgium.

[08] GENDARME FORCES CAPTURE 126 IRAQIS AND 19 IRANIANS IN VAN PROVINCE

Sources said that gendarme forces acting on a tip-off raided on a field in Baskale's Tahil village.

The sources noted that gendarme forces captured 33 Iraqis and 19 Iranians in two houses.

Gendarme forces also captured 93 Iraqis who did not have any passports in a field in Gurpinar township, the sources stated.

The sources added that the illegal immigrants will be handed over to the Police Organization Foreigners Branch to be deported.

[09] FIRST ANNIVERSARY OF DEVASTATING EARTHQUAKE -ENERGY AND NATURAL RESOURCES MINISTRY SPENDS 24.5 TRILLION TL

The statement noted that 1,945 personnel from the Energy and Natural Resources Ministry, the General Directorate of State Water Works (DSI), the Turkish Electricity Distribution Corp (TEDAS), the Turkish Electricity Production and Transmission Corp (TEAS), the Turkish Pipeline Transportation (BOTAS), the Turkish Petroleum Corporation (TPAO), and the Turkish Coal Authority (TKI) were assigned in the quake-stricken area.

The statement pointed out that 20,556 work machines, devices and equipment were dispatched to the area.

Meanwhile, 5,164 beds in social facilities belonged to the Energy and Natural Resources Ministry were allocated to the quake survivors.

The ministry personnel donated 169 billion TL to the quake survivors.

[10] LOAN TO IZMIR NATURAL GAS PIPELINE

The Pipeline Oil Transportation Corp (BOTAS) said on Friday that Sabanci Bank-Akbank would extend the 50 million 770 thousand 850 U.S. dollars loan for the pipeline which would be 36 inches in diameter and 251 kilometers in length.

It said the sides had signed the agreement on the loan in question.

This loan would finance 85 percent of the project which would cost 59 million 741 thousand U.S. dollars.

BOTAS will finance the remaining 15 percent cost of the project which will be finalized in two years by the Peker-Megadex consortium.

[11] PROJECTS FOR BALKAN COUNTRIES -STATE MINISTER CAY: ''TICA WILL CARRY OUT SEVERAL PROJECTS IN BALKAN COUNTRIES FROM JULY 2000 TILL 2001''

''TICA will carry out projects in the Balkan countries from July 2000 till 2001,'' Cay said.

Staging a press conference at the TICA building on ''Projects for Balkan Countries'', State Minister Cay said that TICA's goal with its projects was to create a joint cooperation platform among Turkey, Caucasus and Balkans.

Cay said that TICA would give the priority to the Development of Small and Medium Scale Enterprises System Project in Turkish Republics, Albania, Bosnia-Herzegovina and Macedonia.

Noting that the estimated cost of the project which would be implemented between 2000 and 2005 was 150 thousand U.S. dollars, Cay said that TICA would finance the project.

Cay said that TICA had prepared a program to improve the professional skills of the personnel who would be employed in manufacturing industry and tourism sector in the Balkan countries, adding that the program would be put into practice between 2000-2001 and its budget would be 75 thousand U.S. dollars.

Stating that TICA had prepared also a ''Insurance Training Project'' for Albania, Bosnia-Herzegovina, Macedonia, Bulgaria and Romania, Cay said that the ''Banking and Central Banking Training Project'' for Albania, Bosnia- Herzegovina and Macedonia would be implemented within framework of the 2000 year program.

Cay added that ''OECD Private Sector Development Project'' and ''Consolidation of Statistical Activities'' were among the projects of TICA.

[12] 69TH INTERNATIONAL IZMIR FAIR -HEPSENKAL, DIRECTOR GENERAL OF IZFAS: - ''NEARLY 700 FIRM INCLUDING 329 FOREIGN FIRMS WILL TAKE PART IN THIS YEAR'S FAIR''

Hepsenkal told reporters that opening ceremony of the 69th International Izmir Fair would be held at Ataturk Open Air Theatre.

He noted that President Petru Lucinschi of Moldova would be in attendance at the ceremony.

Hepsenkal said that it was not clear yet whether or not President Ahmet Necdet Sezer and Prime Minister Bulent Ecevit would attend the ceremony.

Fevzi Hepsenkal said that a series of conferences on ''Entrepreneurship in the New Millennium and the Small and Medium Scale Enterprises (SMSEs)'' would be held within scope of the 69th International Izmir Fair.

He added that a new stand was formed under the title of ''World Cuisines'' in order to promote food of different countries.

[13] FOUNDATION OF WASTE WATER PURIFICATION PLANT IN KAYSERI TO BE LAID ON SEPTEMBER 18

Ruchan Tulunay, the Project Coordinator of the TEKSER A.S. which undertook the construction, said on Friday that the plant would be built on a 40 hectares of land and cost 47.4 million German marks.

Tulunay said that the construction would be finalized in two years.

Tulunay explained that the plant would purify 10,540 cubic meters of water per hour, producing 8 thousand cubic meters gas a day and this gas would produce 20 thousand kwh electricty

Mehmet Ozhaseki, the Mayor of central Kayseri province, said that the foundation of the plant would be laid by President Ahmet Necdet Sezer on September 18.

The plant will be contructed by the Va Tech Wabag Gmbh Kulmbach-Tekser A.S. consortium.

[14] 1,800 MHZ GSM NETWORK CONTRACT -DRAFT CONTRACT SENT TO COUNCIL OF STATE

The Council of State will give its opinion on the draft contract after evaluating it.

The draft contract was earlier sent to the Competition Board, and the the Competition Board permitted the transfer of the 1,800 Mhz GSM phone network licence.

The Council of State should convey its opinion to the Transportation and Communications Ministry in two months at the latest.

After this process, the sides will sign the contract.

The winning consortium has to pay in advance 500 million of its 2.525 billion U.S. dollars bid, and pay the remaining 2 billion 25 million U.S. dollars in three months to start operating the network.

[15] BAKU-CEYHAN OIL PIPELINE -SOCAR SENDS LETTER OF BONA FIDE

Within framework of the agreement reached in the meetings which were held to start the project earlier, the Pipeline Transportation Corp (BOTAS) will start field researches in Turkish territories by next Wednesday as it would be difficult to carry out such researches in winter.

Sources said that the Azerbaijani oil company Socar had sent its letter of bona fide.

Meanwhile, more than fifty companies responded to BOTAS's ''preliminary evaluation'' invitation for detailed engineering work on the Turkish territories.

The BOTAS is expected to select a company in coming days.

One million barrels of crude oil will be transferred from Baku to Ceyhan vis Tbilisi a day with a pipeline which will be 1,730 kilometers in length and 42 inches in diameter.

The Baku-Tbilisi-Ceyhan crude oil pipeline project is planned to be finalized in 2004.

[16] BUDGETARY PERFORMANCE IN FIRST SEVEN MONTHS OF 2000

Releasing a statement, Oral said that the consolidated budget expenditures had been 27 quadrillion 238 trillion Turkish lira (TL) including 14 quadrillion 256 trillion TL of interest payments in the January-July period of 2000.

Noting that the budget expenditures excluding interest had been 12 quadrillion 982 trillion TL, Oral said that the budget revenues had been 18 quadrillion 176 trillion TL including 14 quadrillion 373 trillion TL of tax income.

Stating that the budget deficit in fist seven months of 2000 became 9 quadrillion 62 trillion TL, Oral said that the primary surplus was 5 quadrillion 194 trillion TL.

''When compared to same period of 1999, revenues rose by 99.4 percent, tax income increased by 103 percent, expenditures climbed by 77 percent, interests rose by 110.7 percent, non-interest budget expenditures increased by 50.5 percent and the budget balance rose by 44.4 percent in the first seven months of the year,'' he said.

[17] GERMAN-TURKISH SOCIETY REQUESTS GERMANY TO ESTABLISH FOUNDATION FOR STRUGGLE AGAINST XENOPHOBIA

Cinar said that financil aid to the foundation should not restricted with time.

Stressing that the 75 million German mark aid which was planned to to be given by the German government for struggle against xenophobes in Germany was restricted with three years, Cinar said that in case of restriction of aid in a limited time, there was the risk of disappearance of xenophbia problem from the focal point of interest.

[18] KOUCHNER, CHAIRMAN OF UNITED NATIONS MISSION IN KOSOVO: -''OFFICES OF AN ETHNIC TURKISH POLITICAL PARTY HAVE BEEN AMONG THOSE MOST BADLY DAMAGED IN EXPLOSION''

Kouchner told reporters, ''I don't know if the Turkish party was really targeted.''

Kouchner appeared to suggest that the attack may have been the work of extremists opposed to the democratic process in Kosovo and local elections due on October 28.

''Some people are enemies of democracy, that is to say enemies of elections. We knew that,'' he said.

Meanwhile, NATO-led KFOR peacekeeping force officials said that a bomb caused the explosion in the building.

Linda Sipahi, an official from the political party representing Turkish people, is among those who were injured in the attack.

Sipahi was injured in her face.

The building was being run by the Organization for Security and Cooperation in Europe (OSCE).

Turkish people living in Kosovo is being represented by the Turkish Democratic Union (TDP) led by Mahir Yagcilar, and Turkish People's Party (THP) led by Sezai Saipi.

[19] BHADRAKUMAR, INDIAN AMBASSADOR TO TURKEY: -''WE ATTRIBUTE GREAT IMPORTANCE TO HISTORY OF RELATIONS BETWEEN TURKEY AND INDIA''

Addressing the meeting, Bhadrakumar said that his visit to Aydin aimed at further improving relations between the two countries and visiting historical and touristic places in Aegean Region.

Noting that there were good relations between Turkey and India, Bhadrakumar said that they attributed great importance to history of bilateral relations.

Stressing that Turkey had played an active role in development of India in every field, Bhadrakumar said that Mustafa Kemal Ataturk, the Founder of modern Republic of Turkey, had never been forgotten in India.

Bhadrakumar added that Ataturk was a great sample for Indian nation in their struggle to acquire their independence.

[20] AUSTRALIAN AMBASSADOR TO TURKEY FORSYTH: ''TURKISH ECONOMY IS IN GOOD PATH''

Ambassador Forsyth visited Bursa Governor Ali Fuat Guven and Mayor Erdogan Bilenser.

Speaking at his meeting with Bilenser, Forsyth said that Turkey is a country which has historical and cultural assets, and people who wanted to see those assets should visit Bursa province.

Bilenser said that they had developed several projects to promote historical assets in Bursa which became the first capital of the Ottoman Empire and where six Ottoman Sultans had lived.

Noting that production and investments had reduced in 1998 and 1999, negatively affecting the exports and competition, Bilenser said that great economic developments occurred in Turkey in 2000.

Bilenser said that foreign financial organizations which had abstained from extending loans with 25 percent interest rate in 1999 were now wanting to give loans with 6 percent interest rate, and this was a result of the harmony in the government.

Forsyth said that the Turkish economy was in good path, adding that the Turkish economy could grow five percent in 2000, and this would be good news for bilateral relations.

Bursa Governor Guven later briefed the Australian Ambassador on the economic structure in Bursa.

[21] FIRST ANNIVERSARY OF DEVASTATING EARTHQUAKE -PUBLIC WORKS AND HOUSING MINISTER AYDIN: -''WE THANK REPRESENTATIVES OF 74 COUNTRIES THAT RUSHED TO HELP TURKEY''

Addressing the meeting, Aydin expressed Turkish nation's gratitude over foreign countries contributions.

Noting that neither the state nor the non-government organizations were ready for such a devastating disaster, Aydin said, ''we were not ready for such a massive earthquake. We should admit this fact.''

Pointing out that the most important problem was to find shelters for the quake survivors, Aydin said, ''the Japanese people assembled prefabricated huts in Kobe in seven months. They met the quake survivors' need for permanent housing units in four years. We finalized assembling of 26 thousand prefabricated huts till November 30, 1999. Then, 42 thousand prefabricated huts were assembled. Nearly 150 thousand people have been settled in these prefabricated huts. If these huts had not been assembled, serious social problems would have occurred.''

Aydin said, ''permanent housing units will not solve problems in the region. There was a lack of dwelling in the the region in the past. The state will first fulfil its commitments to the right holders. We aim at bringing the issue to the agenda of government in order to start a second housing plan to overcome lack of dwellings in the region.''

Following the meeting, Aydin responded to the questions of journalists.

Responding to a question about permanent housing units, Aydin said, ''there are 57 thousand right holders in the quake-stricken area. Nearly 53 thousand building suffered moderate damage in the quake. 205 trillion Turkish liras have been allocated to this end. We have opened a tender for construction of 23,200 permanent dwellings. The World Bank has started a project for construction of 12,86 dwellings. We will finalize our projects till the end of this year. We will construct new cities in the region. Which country could implement a project of 57 thousand dwellings?''

[22] FIRST ANNIVERSARY OF DEVASTATING EARTHQUAKE -FOREIGN MINISTRY THANKS INTERNATIONAL COMMUNITY

The statement stressed, ''the Turkish people will never forget such a great solidarity of international organizations and non-governmental organizations.''

Noting that the earthquake disaster created a model for ''humanitarian solidarity'', the statement said, ''as we commemorate those who lost their lives in the disaster on the first anniversary of the devastating disaster, international community's friendly approach gives us the strenght we needed to solve quake survivor's problems and to revive economy in the quake- stricken area.''

[23] AGREEMENT ON 500 MILLION U.S. DOLLARS SYNDICATED LOAN TO IS BANKASI SIGNED IN LONDON

The libor+0.45 percent interest loan in question is the highest amount of loan with the minimum interest rate that a Turkish bank has ever obtained.

A total of 64 international banks participated in the one-year maturity syndicated loan which will be used in financing of exports.

Is Bankasi authorized an organizer group including ABC Group, ABN Amro Bank N.V., Alpha Bank, Banca Commerciale Italiana S.p.A., The Bank of New York, The Bank of Tokyo-Mitsubishi LTD., Barclays Capital, The Chase Manhattan Bank N.A., Citybank N.A., Commercial Bank Of Greece S.A., Commerzbank Aktiengesellschaft, Credit Agricole Indosuez, Credit Lyonnais, Deutsche Bank AG, First Union National Bank, The Fuji Bank LTD., Greenwich NatWest LTD., JP Morgan Securities LTD., Natexis Banques Populaires, The Sacura Bank, The Sanwa Bank and Standart Chartered Bank in July 2000 for a 200 million U.S. dollars syndicated loan.

As a result of the intense demand of the international banks, the amount of the loan was increased to 500 million U.S. dollars.

Is Bankasi had previously raised 275 million U.S. dollars through syndicated loan in December 1999 in which 34 international banks had participated.

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