The EBRD is considering providing EUR 20 million senior loan to Isbank to on-lend to Micro, Small and Medium Enterprises (MSMEs) in Turkey. The purpose of the project is to expand capital flows to MSMEs in underserved regions. EBRD’s financing will also assist Isbank in diversifying and lengthening its funding base.
Transition impact will be achieved by providing medium and long term financing through this leading bank using its large and deep distribution network, as it can help expanding capital flows to MSMEs in relatively under-served regions and sectors.
Isbank is the second-largest bank in Turkey and the largest privately-owned bank by total assets. Isbank has long been focused on supporting MSMEs It was the first Turkish bank to launch “Small Business Loans” program, with the target to meet the specific financial requirements of small businesses for working capital, investment and foreign trade activities. The bank’s main business lines are SME and retail banking, along with corporate banking. Its strategy is focussed on maintaining is leading position, and increasing customer satisfaction.
Senior loan of EUR 20 million to Isbank.
Up to EUR 20 million.
The project is categorised FI (2008). Isbank will be required to comply with the Bank’s Performance Requirements for Financial Institutions (specifically, PR2: Labour and Working Conditions and PR9: Financial Intermediaries) and the EBRD's Environmental and Social Procedures for Small and Micro Loans. The bank will also be required to adhere to the EBRD's Environmental and Social Exclusion and Referral Lists, and submit annual environmental and social reports to the EBRD.
The possibility of providing technical cooperation will be assessed during the project implementation for targeted assistance to increase and expand the MSME portfolios of Isbank in the relatively under-served regions.
Türkiye Is Bankasi A.Ş.
International Banking Division
Structured Finance Unit
Is Kuleleri Kule:1 Kat:25 34330 4.Levent - Istanbul
Phone: +90 212 316 28 10
Fax: +90 212 316 08 32
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