Turkey hit by EIB lending freeze

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Thu, 2019-07-25 00:19

LONDON: The European Investment Bank (EIB) will not do any new lending in Turkey linked to the government until at least the end of the year while it carries out a strategy review.

The move is part of a EU decision earlier this month to symbolically punish Turkey over what it calls “illegal” drilling for oil and gas off Cyprus in the eastern Mediterranean.