Turkish bank may finance PHL’s attack helicopter project

News

There is now a possibility that the Turkish Export Import Bank (Eximbank) may provide financing to the Philippine government for the acquisition of Turkish T129 ATAK helicopters.

It could be recalled that on December 7, National Defense Secretary Delfin Lorenzana revealed that the technical working group (TWG) of Philippine Air Force (PAF) chose the said Turkish attack helicopter.

“The Air Force also chose the ATAK of Turkey,” he said. He added that with the allocated budget for the attack helicopter acquisition project PAF may get less than 10 units.

However, with the Turkish Eximbank support, there is possibility to increase units that can be acquired by Philippine government for PAF.

“According to open sources from Turkey, there is an unconfirmed report that the number of units to be offered could be increased with help from Turkish Export-Import bank (Eximbank) possibly via loan/credit and/or via medium-to-long term repayments,” Upfront Philippine Defense and Security said in its social networking page.

“Sources from the defense department confirmed that the Turkish Eximbank is open to provide soft loans or countertrade to allow the DND to acquire additional units to form a complete squadron or two, as well as munitions, a more comprehensive spares package, and even allowing technology transfer to establish a local maintenance capability for the helicopters without the need for the helicopters to be brought to Turkey for minor and major maintenance works,” MaxDefense Philippines said in its social networking page.

This acquisition project is yet to be finally decided by the Department of National Defense (DND) headed by Secretary Delfin Lorenzana.

Sources: https://www.facebook.com/UpfrontPhilippineDefense/posts/2238453136366767; https://www.facebook.com/MaxDefense/posts/862067753963883; https://www.txfnews.com/Tracker/Details/01043338-ff4b-40ae-8a46-1eed5328260d/Turk-Eximbank-could-finance-T129-helicopter-deal-for-Philippines