Translated version of this PSD: Turkish
The EBRD is providing EUR 5 million (in USD equivalent) to Turkiye Garanti Bankas A. ("Garanti" or the "Company") under the Financial Intermediaries Framework. The financing will be a part of EBRD`s investment of EUR 55 million (in USD equivalent) in rated notes issued under Garanti`s existing Diversified Payment Rights ("DPR") programme. EBRD's notes are backed by specifically
defined foreign currency denominated payment orders of Garanti.
The funding will be used to finance eligible MSMEs operating in the northern part of Cyprus.The facility will effectively leverage Garanti's geographic scope to extend financing to EBRD's priority
regions within the MSME segment.
Transition impact will stem from market expansion by providing medium term financing to Garanti to help scale up its MSME lending activities in the northern part of Cyprus.
TURKIYE GARANTI BANKASI AS
Garantibank, listed on Borsa Istanbul, is the third-largest bank in Turkey (by assets) and the second largest privately-owned bank. Garanti is rated BB (stable) / BBB (negative) / Ba2 (stable) by S&P,
Fitch and Moody's. Garanti is a universal bank and serves 13.8 million customers in the corporate, commercial, MSME and consumer segments, offering fully integrated financial services through its
domestic and foreign branches.
EBRD Finance Summary
EUR 5 million (in USD equivalent)
Total Project Cost
Environmental and Social Summary
Categorised FI. Garanti is satisfactorily implementing the EBRD's E&S requirements under existing exposures. The bank is in compliance with PRs 2, 4 and 9 and has submitted satisfactory Annual
Environmental and Social reports to date. For this transaction Garanti will continue to apply the EBRD's E&S requirements for Corporate and SME Loans.
Company Contact Information
For business opportunities or procurement, contact the client company.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
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Text of the PIP
Project Complaint Mechanism (PCM)
The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.
Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (firstname.lastname@example.org) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.