LBT Varlik Yonetim A.S

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 42385

Status Disbursing

Location

Türkiye

Business Sector

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Project ID 42385

Status Disbursing

Location

Türkiye

Business Sector

Notice Type

Private

Environmental Category

Approval Date

12 May 2011

Disclosure date

27 Apr 2011

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Translated version of this PSD: Turkish

Project Description

The EBRD is considering equity and debt finance for LBT Varlık Yönetim A.Ş. (the “Company”).

The EBRD finance will be used to further expand the Company’s business of acquiring and resolving non-performing corporate and retail loans and receivables (“NPL”) from originating financial institutions in the country.

Transition Impact

The Project will support a leading NPL asset manager to further expand its existing operations and the NPL market in Turkey as a whole. This is expected to have a beneficial impact on financial institutions’ balance sheets, introduce further efficiency in the NPL market and continue setting of standards of reputable and responsible resolution of NPLs in the country.

The Client

The Company is one of the leading NPL asset managers in Turkey, focusing on acquisition and resolution of non-performing loans and receivables from originating financial institutions in the country.

EBRD Finance

Up to TRY 100 million of equity and debt finance.

Project Cost

Up to TRY 100 million.

Environmental Impact

Categorised FI. LBT will be required to comply with the EBRD's Performance Requirements 2 and 9 and submit annual environmental and social reports to the EBRD. The Company's NPL collection procedures are implemented based on the UK and US best practices. ESDD training will be provided by the Bank to LBT.

Technical Cooperation

None.

Company Contact

Mr. Ilker Yoney,
Investments Director

Email: ilker.yoney@lbtvarlik.com.tr
Tel: +90 212 355 8012

Transition impact

ETI Score:75

PSD last updated

01 Feb 2019

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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