Project number:


Business sector:

Financial institutions

Notice type:


Environmental category:


Approval date:

21 Jul 2021



PSD disclosed:

01 Sep 2022

As permitted by paragraph 2.6 of Section III of the Access to Information Policy, disclosure of this PSD was deferred in accordance with paragraph 1.4.4 of the Directive on Access to Information.

Project Description

The EBRD has provided USD 127 million financing to Turkiye Is Bankasi A.S. ("Isbank") under Isbank's existing Diversified Payment Rights ("DPR") programme. The proceeds of the financing will be split between the Women in Business II ("TurWiB II"), USD 76 million, and the Turkey Sustainable Energy Financing Facility III ("TurSEFF III"), USD 51 million ("The Project"). 

Project Objectives

TurWiB II is an integrated and dedicated programme aimed at supporting women entrepreneurship and women-led SMEs. EBRD financing will be accompanied by (i) a technical cooperation programme to assist Isbank to build its internal capacity by developing new systems, business and institutional models, products and delivery mechanisms to effectively reach outand better serve this segment, and (ii) a risk sharing mechanism supported by the Turkish Credit Guarantee Fund (Kredi Garanti Fonu, the "KGF") 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.

TurSEFF III aims to (i) further increase financial intermediation for small-scale renewable energy investments and a broader range of resource efficiency investments, including energy efficiency, waste minimisation and water savings; (ii) further improve the financial institutions' skills in recognizing and assessing a wider range of sustainable energy and resource efficiency projects.

Transition Impact

ETI score: 70

The Project will contribute to Green, Inclusive and Competitive TI qualities. It supports building green economy and 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.

Client Information


As of June 30, 2022, Isbank is the largest private bank in Turkey with total assets of EUR 66bn (10.7% market share) and total equity of EUR 7.8bn (consolidated basis), operating through 1,153 domestic and foreign branches. Isbank is rated B- (Negative) by Fitch and B3 (Stable) by Moody's.

EBRD Finance Summary

USD 127,000,000.00

Total Project Cost

USD 127,000,000.00


The additionality stems from i) financing structure that supports Isbank in securing longer-term external financing, contributing to diversification of Isbank's funding, ii) supporting higher energy efficiency standards and enhancing access to finance for women led SMEs iii) standard-setting by helping projects and clients to achieve higher standards. The transaction is expected to support Isbank 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). Isbank is an existing client and will be required to continue to comply with EBRD's Performance Requirements (PRs) 2, 4 and 9; continue to implement the applicable EBRD's Environmental and Social (E&S) Risk Management Procedures for Micro, SME and Corporate loans for Financial Institutions and submit Annual Environmental and Social Reports to EBRD.

Technical Cooperation and Grant Financing

Both TurWiB II and TurSEFF III are supported by Technical Cooperation ("TC").

TurWiB II is supported by a TC Programme for a total amount of EUR 4.13 million funded by the "EU Instrument for Pre-Accession Assistance (IPA) 2009 Turkey Private Sector Support Facility", EBRD SSF and the "Turkey - EBRD Cooperation Fund".

In case of TurSEFF III, the TC is up to EUR 5.5 million. Funding is provided by the European Union under two contribution agreements "Enhancement of Turkish Energy Sector in line with EU Energy Strategies" and "EU Instrument for Pre-Accession Assistance (IPA) 2009 Turkey Private Sector Support Facility", and by the Republic of Turkey Ministry of Treasury and Finance under the "Turkey - EBRD Cooperation Fund".

Company Contact Information

Meryem Onel Walker
90 212 316 28 41
Türkiye Is Bankasi A.S. Financial Institutions Division Is Kuleleri Kule:1 Kat:25 34330 4.Levent - Istanbul

PSD last updated

01 Sep 2022

Understanding Transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and the associated Performance Requirements (PRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”.  The ESP and the PRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation as well as to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about environmental and social performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD additionally requires its clients to disclose information, as appropriate, about the risks and impacts arising from projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and Compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all activities of the Bank in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The Bank believes that identifying and resolving issues at the project assessment approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts, and also helps to monitor integrity risks in projects post-investment.

OCCO is also responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, both within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. All matters reported will be handled by OCCO for follow-up. All reports, including anonymous ones, will be reviewed. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP 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 following its entry into force on 1 January 2020. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD Enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (e.g. through the Client’s Project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews Project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the Mechanism is: to support dialogue between Project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or Project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate; how to submit a Request for review; or contact IPAM  via email ipam@ebrd.com to get guidance and more information on IPAM and how to submit a request.


Share this page: