Garanti Bank DCM Gender Bond (IFC-40886)

Regions
  • Europe and Central Asia
Where the impacts of the investment may be experienced.
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
Active
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
Apr 25, 2018
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 GARANTI BANKASI AS
The holder of the loan, grant, or other investment.
Sectors
  • Finance
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 Aug 3, 2018

Disclosed by Bank Jun 13, 2018


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Project Description

This project provides a gender bond investment in Turkiye Garanti Bankasi A.S., the proceeds of which will be used to finance women-owned small enterprises in Turkey.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

Garanti Bank is the second largest private banking group in Turkey with total assets over US$94 billion as of December 31, 2017. As of February 2017, BBVA increased its stake to 49.85%. The remaining shares of Garanti Bank are listed and publicly traded on Borsa Istanbul.

BBVA, a global financial services group founded in 1857, is the largest financial institution in Spain and Mexico and it has leading franchises in South America, the Sunbelt Region of the United States and Turkey.                                               

Contact Information

Garanti Bank 
Mr. Deniz Caner Kurt 
Supervisor 
+90 (212) 318 17 32 
canerkurt@garanti.com.tr 
Nispetiye Mah. Aytar Cad. No. 2 Levent Besiktas Istanbul 
www.garanti.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/