Economic Cooperation Organisation Trade and Development Bank (ECO Bank) signed a loan agreement with Turkish Petroleum Refineries Corporation (TÜPRAŞ) on December 21, 2009 for an amount of US $ 20 million for the purpose of facilitating import of crude oil from an ECO member country.

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.

The Board of Directors of the ECO Trade and Development Bank approved the transaction to allow TÜPRAŞ to avail financing up to 1 year. The total amount of US $ 20 million has been disbursed on December 23, 2009 by the ECO Bank.