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DRF- QNB Finansbank



Project number:


Business sector:

Financial institutions

Notice type:


Approval date:

31 May 2023



PSD disclosed:

12 Jul 2023

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

A senior unsecured loan of up to USD 110 million to QNB Finansbank A.S. ("QNB Finansbank") under Window 1 of the Türkiye-Disaster Response Framework ("DRF" or "Framework"), a framework for Turkish banks to support livelihoods, jobs and human capital in the South-Eastern provinces of Türkiye's affected by the February 6, 2023 earthquakes. The EBRD proceeds will be channeled through QNB Finansbank to support eligible private businesses and individuals directly impacted by the disaster, with an aim to address the most immediate funding needs of the local population in the affected cities, enabling borrowers to restructure existing loans as well as obtain additional financing as needed.

Project Objectives

The Framework constitutes the first and immediate phase of EBRD's emergency crisis response to the devastating earthquakes in South-Eastern Türkiye. It will channel EBRD funding via the Bank's existing partner banks in Türkiye to support individuals and businesses directly affected by the disaster. As such, the Framework reflects the goals of the EBRD's Equality of Opportunity Strategy 2021-2025 ("EOS") which recognizes that shocks and crises, including natural disaster, have the potential to entrench and exacerbate existing inequality of opportunity, therefore requiring the EBRD to mitigate the impacts of such events on livelihoods and human capital.

Transition Impact

ETI score: 65

ETI score: 65

The Framework supports the Inclusive transition quality by mitigating the impact of the crisis and the subsequent economic shocks on the local population in a part of Türkiye that already faced major human capital challenges before the disaster. Under Window 1, Inclusive transition impact will be achieved through ensuring access to finance for businesses and individuals directly impacted by the earthquakes, supporting people's livelihoods and safeguarding their human capital.

Client Information


QNB Finansbank is Turkey's sixth largest private bank by asset size (9th when state banks are included) with 4.3% market share of the sector`s assets at YE22. The bank 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 B3 (neg) by Moody's and B- (neg) by Fitch.

EBRD Finance Summary

USD 110,000,000.00

Total Project Cost

USD 110,000,000.00


EBRD's Additionality is arising from its role in supporting private sector crisis response to the earthquakes in South-Eastern Türkiye. The Bank is acting as a countercyclical lender during a time of shock and major uncertainty for financial institutions, sub-borrowers and the Turkish economy as a whole.

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


Company Contact Information

Engin Basaga
+90-212 318 5683
QNB Finansbank A.Ş. Kristal Kule Büyükdere Cad No:215 34394, 4 Levent / Istanbul / TURKIYE

PSD last updated

12 Jul 2023

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

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794

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 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 to get guidance and more information on IPAM and how to submit a request.


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