IsBank - Comprehensive Financing Facility

Location:

Turkey

Project number:

44962

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Approval date:

01 May 2013

Status:

Cancelled

PSD disclosed:

05 Apr 2013

Translated version of this PSD: Turkish

Project Description

The EBRD is considering a EUR 150 million financing facility for Türkiye İş Bankası (“Isbank”), an EBRD partner bank since 2010. The financing facility will be provided to Isbank in three tranches to be on-lent to SMEs operating in priority sectors such as agriculture, energy efficiency and renewable energy as well as women in business initiatives (“WIB”).

Transition Impact

The facility’s agricultural lending tranche will underpin the growth of Isbank’s lending activities and increase access to finance and job creation in the agricultural sector and in the least economically developed areas of Turkey.

The facility’s energy efficiency tranche will further demonstrate to SMEs the effects of rational energy utilisation for improving industrial competitiveness in light of rising energy costs in Turkey.

Finally, the WIB tranche will support women’s entrepreneurship and economic empowerment in the country.

The Client

Isbank, established in 1924, is the largest bank in Turkey by total assets with a market share of 13.5%, 14.2% by total loans and 12.6% by shareholders’ equity as of end-2012 The bank operates nationwide through a network of 1,231 domestic branches. Isbank has long been focused on supporting SMEs and was the first Turkish bank to launch a “Small Business Loans” program.

EBRD Finance

Financing facility of up to EUR 150 million available in three tranches.

Project Cost

EUR 150 million.

Environmental Impact

Categorised FI. Isbank will be required to comply with the Bank’s Performance Requirements 2 and 9 and the EBRD's Environmental and Social Procedures for Small and Micro Loans. The bank will also be required to submit annual environmental and social reports to the EBRD.

Technical Cooperation

Isbank will benefit from technical assistance provided under the Turkey MSME Lending Technical Co-operation Programme (TMSMELP) funded by the EU Turkey Private Sector Support Facility (TurPSSF) and from technical assistance funded by the EU/EBRD SME Finance Facility for EE.

Company Contact

Nilgün Osman
Türkiye Is Bankasi A.Ş.
International Banking Division
Structured Finance Unit
Is Kuleleri Kule:1 Kat:25 34330 4.Levent - Istanbul

Phone: +90 212 316 28 10
Fax: +90 212 316 08 32
E-mail: nilgun.osman@isbank.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

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

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Text of the PIP

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