Garantibank: Women Owned and Managed SMEs Credit Line

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 43784

Status Complete

Location

Türkiye

Business Sector

Financial Institutions

Notice Type

Private

Project timeline

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

Project ID 43784

Status Complete

Location

Türkiye

Business Sector

Financial Institutions

Notice Type

Private

Environmental Category

Approval Date

18 Sep 2012

Disclosure date

15 Aug 2012

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 providing Garantibank a senior unsecured loan of up to US$ 60 million to on-lend to small and medium enterprises (SMEs) owned and/or managed by women in Turkey. The transaction will support Garantibank in increasing its portfolio for SMEs owned and/or managed by women.

Transition Impact

Transition impact will arise through market expansion which will be achieved by supporting SMEs owned and/or managed by women in Turkey with a special focus given to cities other than Istanbul, Izmir and Ankara. The transaction will also carry a demonstration effect for other Turkish banks to follow similar initiatives for women in business.

The Client

Garantibank is the third-largest bank in Turkey and the second-largest privately-owned bank. It is a universal bank and serves 11 million customers in the corporate, commercial, SME and consumer segments, offering fully integrated financial services through 926 branches. Garantibank’s two main shareholders are BBVA (25.01% ownership) and Dogus Holding (24.23% ownership).

EBRD Finance

Senior Loan of up to US$ 60 million to Garantibank in two tranches of US$ 35 million and US$ 25 million which will be provided in 2012 and 2013.

Project Cost

Up to US$ 60 million to be provided in US$.

Environmental Impact

Categorised FI: Garantibank is required to implement EBRD’s Performance Requirements 2 & 9 and report to the Bank annually on the implementation of the PRs.

Technical Cooperation

Garantibank has benefited from previous and ongoing TC assignments covering frameworks such as MSME, MidSEFF, TurSEFF and TurAFF. These were supported by several donors, including the Clean Technology Fund, the US Government and the EU. The EBRD is now considering providing TC to support Garanti's joint efforts with academic institutions to increase the financial and managerial literacy and capacity of women entrepreneurs.

Company Contact

Gencay Gedik
Levent,
Nispetiye Mah. Aytar Cad. No:2
34340 Besiktas,
Istanbul,
Turkey

E-mail : gencayge@garanti.com.tr
Phone number : 0090 212 318 17 33
Fax number : 0090 212 216 62 17
Website : www.garanti.com.tr

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

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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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