Hard Loan

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Hard Loan

A loan made in a foreign currency that is stronger than the domestic currency. For example, a Turkish company may loan money to a Syrian company in euros because the euro is a stronger currency than either the Turkish lira or the Syrian pound. A hard loan carries foreign-exchange risk, but this is considered an acceptable risk compared to making the loan in a weak currency. See also: Hard currency.
References in periodicals archive ?
The Planning Commission will approve two power generation projects with hard loans soon.
and hard loans from the likes of the World Bank and the IMF have neither