Translated version of this PSD: Turkish
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 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.
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.
Senior loan of up to €50 million equivalent.
Up to €50 million equivalent.
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.
SVP, Head of Treasury and FI
Garanti Finansal Kiralama A.S.
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