FIF - QNB Finans Leasing SME Loan

Location:

Turkey

Project number:

51144

Business sector:

Leasing Finance

Notice type:

Private

Environmental category:

FI

Target board date:

24 Jul 2019

Status:

Disbursing

PSD disclosed:

21 Jun 2019

Translated version of this PSD: Turkish

Project Description

The provision of an MSME A/B loan of up to EUR 55 million equivalent to QNB Finans Finansal Kiralama A.S. ("QNB Finans Leasing" or the "Company"), a subsidiary of QNB Finansbank to finance MSMEs in Turkey.

Project Objectives

The proceeds of the A/B loan will be used for on-lending to micro, small and medium-sized businesses which have limited level of financial intermediation and constrained access to long-term finance. The project will assist QNB Finans Leasing to further diversify its funding base, while growing its leasing portfolio to MSMEs across the country.

Transition Impact

The impact of the project will stem from: (i) fostering SME competitiveness by increasing availability of financing; and (ii) contributing to the resilience of QNB Finans Leasing's business by supporting sustainable portfolio growth.

Client Information

QNB FINANS FINANSAL KIRALAMA AS

EBRD Finance Summary

EUR 40,000,000.00

EUR 40,000,000 (or its USD or TRY equivalent)

Total Project Cost

EUR 55,000,000.00
EUR 55,000,000 (or its USD or TRY equivalent)

Environmental and Social Summary

Categorised FI (ESP 2014). QNB Finans Leasing is an existing client of the Bank and will be required to continue to comply with Performance Requirements 2, 4 and 9; continue to implement the EBRD's Environment & Social (E&S) Risk Management Procedures for Leasing Companies which includes adherence to the EBRD's E&S Exclusion List; and submit Annual E&S Reports to the Bank.

Technical Cooperation

None

Company Contact Information

Gülsün Atmaca
Gulsun.Atmaca@qnbfl.com
+90 (0212) 349 11 11
https://www.qnbfl.com/homepage

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