Translated version of this PSD: Turkish
Project Description
The EBRD is considering a senior loan of up to €50 million equivalent to Garanti Leasing (“GL”), a subsidiary of Garanti Bank (“GB”), the second largest privately owned bank in Turkey to expand its equipment leasing activities to micro, small and medium-sized enterprises (MSMEs) in Turkey. The purpose of the project is to increase the availability of leasing finance for machinery and equipment to MSMEs located in underserved regions. EBRD financing will enable the Company to offer long-term leases to MSME clients.
Transition Impact
Transition impact will stem from expanding the availability of leasing products in priority development regions in Turkey drawing on GL’s expertise in providing equipment finance to MSMEs to expand leasing products further in the regions. The project will make a contribution towards lengthening GL’s funding base to match the tenor of the underlying leases financed by the facility.
The Client
Established in 1990, GL is currently the second largest leasing company in Turkey by new business volume and the market leader in terms of number of transactions at 1H 2013. GL is focused on smaller ticket leasing transactions with specialised expertise in providing equipment leasing and vendor finance to MSMEs.
EBRD Finance
Senior loan of up to €50 million equivalent.
Project Cost
Up to €50 million equivalent.
Environmental Impact
Categorised FI: Garanti Leasing (GL) will be required to comply with EBRD's PRs 2 and 9 and implement the EBRD's E&S Procedures for Leasing and submit Annual Environmental and Social Reports to the EBRD. GL staff will be required to complete the EBRD's E&S e-learning training programme on Leasing.
Technical Cooperation
None.
Company Contact
Cem Surmen
SVP, Head of Treasury and FI
Garanti Finansal Kiralama A.S.
E-Mail: csurmen@garantileasing.com.tr
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
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Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com
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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 (pcm@ebrd.com) 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.
