Translated version of this PSD: Turkish
The EBRD is considering providing Garantibank a senior unsecured loan of up to US$ 60 million to on-lend to small and medium enterprises (SMEs) owned and/or managed by women in Turkey. The transaction will support Garantibank in increasing its portfolio for SMEs owned and/or managed by women.
Transition impact will arise through market expansion which will be achieved by supporting SMEs owned and/or managed by women in Turkey with a special focus given to cities other than Istanbul, Izmir and Ankara. The transaction will also carry a demonstration effect for other Turkish banks to follow similar initiatives for women in business.
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 926 branches. Garantibank’s two main shareholders are BBVA (25.01% ownership) and Dogus Holding (24.23% ownership).
Senior Loan of up to US$ 60 million to Garantibank in two tranches of US$ 35 million and US$ 25 million which will be provided in 2012 and 2013.
Up to US$ 60 million to be provided in US$.
Categorised FI: Garantibank is required to implement EBRD’s Performance Requirements 2 & 9 and report to the Bank annually on the implementation of the PRs.
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 now considering providing TC to support 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
E-mail : email@example.com
Phone number : 0090 212 318 17 33
Fax number : 0090 212 216 62 17
Website : www.garanti.com.tr
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