Translated version of this PSD: Turkish
Project Description
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.
Project Objectives
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
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.
Client Information
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
EUR 5,000,000.00
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.
Technical Cooperation
None.
Company Contact Information
Gencay Gedik
gencayge@garanti.com.tr
0090 212 318 17 33
0090 212 216 62 17
www.garanti.com.tr
Levent, Nispetiye Mah. Aytar Cad. No:2 34340 Besiktas, Istanbul, Turkey
Business opportunities
For business opportunities or procurement, contact the client company.
For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com
General enquiries
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com
Public Information Policy (PIP)
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Text of the PIP
