The EBRD is considering a senior unsecured loan of up to €50 million to Turk Ekonomi Bankasi (“TEB”), 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, 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 TEB 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 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.
Established in 1927, Turk Ekonomi Bankası A.S. (“TEB”) is the seventh largest private bank in Turkey (10th including the three state-owned banks) by assets as of end of 2013. TEB is present in all areas of financial services in Turkey and has five main business lines: (i) Corporate Banking, (ii) SME Banking, (iii) Retail Banking, (iv) Private Banking and (v) ALM and Treasury. TEB is jointly controlled by BNP Paribas (“BNPP”) and Colakoglu Group since 2005 following the acquisition of 50% of shares of TEB by BNPP from Colakoglu Group.
Senior unsecured loan of up to €50 million.
Categorised FI. TEB is required to implement EBRD’s performance requirements 2 & 9 and the Bank’s environmental and social procedures for small and micro loans. TEB 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 TEB..
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 TEB’s capacity to reach out to women-led SMEs. The overall objective of the technical cooperation will be to support TEB 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.
Turk Ekonomi Bankasi
TEB Kampus Saray Mahallesi
Sokullu Caddesi No: 7A
Email : murat. yazir@teb. com.tr
Phone: +90 (216) 635 35 35
Fax : +90 (206) 636 36 36
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