Provision of a senior unsecured loan to QNB Finansbank A.S. ("QNB Finansbank"), in the amount of up to USD 50 million, under the Turkey Women in Business II ("TurWiB II"), a blended programme established under the Financial Intermediaries Framework ("FIF") to support financing for women led small and medium-sized enterprises (SMEs) to promote women entrepreneurship in Turkey. The loan may be provided in one or more tranches.
TurWiB II is an integrated and dedicated programme supporting women entrepreneurship and women-led SMEs. EBRD financing will be accompanied by (i) a technical cooperation programme to help QNB Finansbank to build their internal capacity to better serve this segment, and (ii) a risk sharing mechanism supported by the Turkish Credit Guarantee Fund ("CGF") to stimulate lending on a sustainable basis. In addition, women entrepreneurs will be provided with advisory, mentorship and networking opportunities, facilitating their access to know-how and non-financial development services, as well as access to markets.
ETI score: 70
ETI score: 70
The Project will contribute to Inclusive and Competitive transition impact qualities. It supports strengthening the role of women-led SMEs in the economy, putting emphasis on under-served women entrepreneurs, including first-time borrowers and those based outside of main commercial centres in Turkey. Moreover, as part of the Program, direct engagement with women entrepreneurs and women-led SMEs serves to improve their competitiveness and resilience, while close engagement with PFIs on delivery of non-financial services serves to create a demonstration effect of the value of these services for their clients.
QNB FINANSBANK AS
QNB Finansbank is Turkey's sixth largest private bank by asset size (9th when state banks are included) with total consolidated assets of EUR 26 billion as of 31 December 2021. It is 99.88% owned by Qatar National Bank Q.P.S.C. (QNB), which is in turn 50% owned by Qatar Investment Authority, Qatar's sovereign wealth fund, (QIA) with the rest of the shares being publicly traded. QNB Finansbank also provides leasing and factoring services through its two large subsidiaries: QNB Finansleasing QNB and Finansfactoring. QNB Finansbank is currently rated B2 (neg) by Moody's and B (neg) by Fitch.
EBRD Finance Summary
Total Project Cost
The additionality stems from i) financing structure that supports QNB Finansbank in acquiring longer-term external financing and ii) standard-setting by helping projects and clients to achieve higher standards. Transaction is expected to support QNB Finansbank to roll out new products to better meet the needs of women-led SMEs, improving access to finance.
Environmental and Social Summary
Categorised FI (ESP 2019). QNB Finansbank is an existing client and has demonstrated compliance with the applicable PRs through its annual environmental and social reporting. QNB Finansbank will be required to continue to comply with EBRD's Performance Requirements (PRs) 2, 4 and 9,; and continue to implement the applicable EBRD's E&S Risk Management Procedures for Financial Institutions and submit Annual Environmental and Social Reports to the Bank.
Technical Cooperation and Grant Financing
TurWiB II is supported by a TC programme for a total amount of up to EUR 4.13 million funded by the EU-EBRD Private Sector Support Facility, EBRD SSF and Turkey-EBRD Cooperation Fund Account.
Company Contact Information
+90-212 318 5683
+90-212 318 5648
Buyukdere Caddesi No: 215 Gayrettepe Istanbul 34394 TURKEY
PSD last updated
29 Apr 2022
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