TurWiB - Finansbank

Location:

Turkey

Project number:

47030

Business sector:

Financial institutions

Notice type:

Private

Environmental category:

FI

Target board date:

10 Dec 2014

Status:

Repaying

PSD disclosed:

04 Nov 2014

Translated version of theis PSD: Turkish 

Project Description

The EBRD is considering a senior unsecured loan of up to €50 million (or USD equivalent) to Finansbank A.S, a commercial bank incorporated in Turkey, to provide financing for the women-led small and medium-sized enterprises (“SMEs”) to promote women entrepreneurship in Turkey.

The facility is a sub-project under TurWiB Framework, which is an integrated and dedicated programme in Turkey targeting women-led SMEs. The ultimate goal of the facility is to promote women entrepreneurship and access to finance, and more broadly women’s participation in business, through the development of a strong women-led SME sector in Turkey by facilitating access to finance and advice for women-led SMEs.

The facility is supported by (i) technical cooperation programme to help Finansbank develop financial products that meet the specific needs of women-led enterprises, (ii) a risk sharing mechanism to stimulate lending to this group on a sustainable basis and will benefit from the synergies with (iii) the Women in Business Small Business Support (“SBS”) component; which constitute the grant component of the TurWiB Programme as a whole.

Transition Impact

Transition impact will stem from i) market expansion, ii) demonstration of new products and processes and iii) transfer of skills.
Market Expansion: Market expansion will be achieved by increasing the availability of financing to women-owned and women-managed SMEs in Turkey, where gender gaps in access to finance are large.

Demonstration of New Products: The Facility and the Programme in general are expected to demonstrate that financing WiB SMEs through the introduction of new products and processes tailored to cater to the needs of WiB SMEs is not only commercially viable and profitable, but also scalable and replicable.

Transfer of Skills: Transition impact will also arise through transfer of skills by providing capacity building, product development and marketing outreach support

The Client

Finansbank is the 6th largest privately owned Turkish commercial bank by asset size as of H12014. It was incorporated in 1987 by the Fiba Group (a Turkish conglomerate ultimately owned and controlled by the Ozyegin family). In 2006, the National Bank of Greece (NBG), acquired directly and indirectly 95% of Finansbank. Following the acquisition of IFC`s shares (5%) on 29 March 2007, the NBG`s total share-holding in Finansbank increased to 99.81%. In line with its domestic business model, Finansbank operates exclusively in Turkey providing banking services to retail, corporate, commercial and SME clients.

EBRD Finance

Senior unsecured loan of up to €50 million (or USD equivalent).

Project Cost

€50 million (or USD equivalent).

Environmental Impact

Categorised FI. Finansbank is required to implement EBRD’s performance requirements 2 & 9 and the Bank’s environmental and social procedures for small and micro loans. Finansbank will submit annual environmental and social reports to the EBRD on the implementation of the environmental and social requirements. An independent project consultant will also be in place to ensure compliance with the environmental and social requirements and the eligibility criteria. The consultant will be required to undertake the Bank’s environmental and social E-learning Training Programme for Finansbank.

Technical Cooperation

The Facility will be supported by a comprehensive technical cooperation programme focusing on institutional capacity building, product development and marketing and outreach activities to build Finansbank’s capacity to reach out to women-led SMEs. The overall objective of the technical cooperation will be to support Finansbank in the process of better understanding the financial needs of the women-led SME segment, and enable it to develop adequate customer information systems, optimise its lending procedures, and develop and market products and services to respond to the segment needs. The technical cooperation for the programme will be jointly funded by the EU’s Instrument for Pre-Accession Assistance (IPA) and the Turkish Ministry of Labour and Social Security.

Company Contact

Ms. Işıl Gürbüz
Division Manager / International Division
Tel: 0212 318 5168
Fax: 0212 318 5648
E-mail: isil.gurbuz@finansbank.com.tr
Address: Finansbank, Head Office
Buyukdere Caddesi No: 129 Gayrettepe Istanbul 34394

 

Business opportunities

For business opportunities or procurement, contact the client company.

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