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ARTICLE · 27 OCTOBER 2016

State To Act As Guarantor For Build-Operate And Transfer Projects

Ersoy Bilgehan
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The Council of Ministers has recently issued a Regulation on Liability Undertakings to be Performed by the Undersecretariat of Treasury.

TurkeyReal Estate and Construction
Ersoy Bilgehan
Ersoy Bilgehan
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The Council of Ministers has recently issued a Regulation on Liability Undertakings to be Performed by the Undersecretariat of Treasury ("Regulation").

According to the Regulation, (i) build-operate and transfer projects with a minimum investment amount of TRY 1,000,000,000 and (ii) build-lease and transfer projects with a minimum investment amount of TRY 500,000,000 ("Projects") can now benefit from the liability undertaking which will be provided by the Undersecretariat of Treasury ("Undersecretariat").

The first step towards this liability undertaking was taken during the acceptance of the Budget Law for the Year 2014 ("Budget Law"). According to the Budget Law, the limit for the Undersecretariat to provide a liability undertaking has been determined as USD 3,000,000,000.

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