Translated version of this PSD: Turkish
Project description and objectives
The EBRD is considering a EUR 50 million financing facility for Odeabank A.S. (“Odeabank”), a new EBRD partner bank. The financing facility will be provided to Odeabank in up to two tranches.
The operation will enable Odeabank to increase its lending to micro, small, and medium-sized entreprises (“MSMEs”) operating in Turkey.
The SME lending facility will underpin the growth of Odeabank’s lending activities and increase access to finance and job creation in the SME sector.
The main sources of the transition impact under the Facility will stem from market expansion, by providing a new partner bank in Turkey, Odeabank, with funding to scale up its SME lending activities as part of its ongoing high-growth trajectory.
Odeabank is the 13th largest bank in Turkey. It was established in 2012, and started its operations in November 2012. As of end of September 2014, Odeabank had a market share of 1.2% in terms of asset, and operated a network of 48 branches located in 14 cities.
Financing facility of up to EUR 50 million available in two tranches.
Total project cost
EUR 50 million.
Environmental and social categorisation, impact, and mitigation
Categorised FI. Odeabank 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.
Financial Institutions and Funding
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