Translated version of this PSD: Turkish
The EBRD is considering providing Garantibank a loan secured by current and future remittances of up to EUR 50 million to on-lend to micro, small and medium enterprises (MSMEs) in the lesser developed regions of Turkey. The transaction will provide long term financing to GarantiBank to help it prioritise the MSMEs operating in the lesser developed regions through its wide branch network.
Transition impact will arise through market expansion which will be achieved by supporting MSMEs in the lesser developed regions of Turkey. Where possible, the potential linkages with the MSME clusters in the target regions will be explored.
Garantibank is the third-largest bank in Turkey and the second-largest privately-owned bank. It is a universal bank and serves 11 million customers in the corporate, commercial, SME and consumer segments, offering fully integrated financial services through 961 branches. Garantibank’s two main shareholders are BBVA (25.01% ownership) and Dogus Holding (24.23% ownership).
EBRD will invest in the rated senior bond notes issued under GarantiBank’s existing Diversified Payment Rights (“DPR”) programme denominated in either EUR or USD.
Up to EUR 50 million to be provided in either EUR or USD.
Categorised FI: Garantibank is required to implement EBRD’s Performance Requirements 2 and 9 and report to the Bank annually on the implementation of the PRs.
In line with SBS strategy, efforts will be made to link the proposed transaction with assistance from the SBS Team through both EGP and BAS Support and with SDA’s (Sector Development Activity) and MDA’s (Market Development Activity) to MSMEs. Garantibank has benefited from previous and ongoing TC assignments covering frameworks such as MSME, MidSEFF, TurSEFF and TurAFF. These were supported by several donors, including the Clean Technology Fund, the US Government and the EU. The EBRD is also supporting Garanti's joint efforts with academic institutions to increase the financial and managerial literacy and capacity of women entrepreneurs.
Nispetiye Mah. Aytar Cad. No:2
For business opportunities or procurement, contact the client company.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Public Information Policy (PIP)
The PIP 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. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
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.