Economic Cooperation Organisation (ECO) Trade and Development Bank signed a medium term loan agreement with Turkish Petroleum Refineries Corporation (TÜPRAŞ) on 3 March 2011, for the amount of US $ 30 million, in order to facilitate importing of crude oil from ECO member countries to Turkey.

Turkish Petroleum Refineries Corporation is one of the largest industrial enterprises in Turkey, operating four oil refineries located in İzmir, İzmit, Batman and Kırıkkale cities. Turkish Petroleum Refineries Corporation mainly imports crude oil from abroad besides buying locally for refining purposes and then sale in local and international markets.

Following the previous loan which had already been disbursed on December 23, 2009 with the total amount of US $ 20 million, this is the second loan for TÜPRAŞ, provided by the ECO Trade and Development Bank.