TSKB Sustainable Climate (IFC-39330)

Countries
  • Turkey
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 4, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
TURKIYE SINAI KALKINMA BANKASI A.S.
The holder of the loan, grant, or other investment.
Sectors
  • Climate and Environment
  • Energy
  • Finance
  • Industry and Trade
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 75.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 7, 2017

Disclosed by Bank Nov 1, 2017

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Project Description
This project provides financing to Turkiye Sinai Kalkinma Bankasi A.S, Turkey's first privately-owned development and investment bank. The loan will be used to finance climate mitigation and adaptation projects, including energy efficiency, resource efficiency, renewable energy, green buildings, occupational health and safety, and research and development in Turkey.
Investment Description
  • International Finance Corporation (IFC)
Private Actors
50.71% of TSKB shares are held by the Turkiye Is Bankasi Group (IsBank), the largest private commercial bank in Turkey. The second largest shareholder is Turkiye Vakiflar Bankasi which holds 8.38%, the remainder is comprised of minor holdings of other institutional shareholders and free-float traded on the Borsa Istanbul.
Contact Information
TSKB Cigdem Icel Executive Vice President +90-212-334-5050 ICELC@tskb.com.tr Meclisi Mebusan Cad. 81 Findikli 34427 Istanbul www.tskb.com.tr ACCOUNTABILITY MECHANISM OF IFC The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/