SMBC ECA RSF II (IFC-42607)

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
May 28, 2019
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
SUMITOMO MITSUI BANKING CORPORATION
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)
$ 500.00 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 Jul 5, 2019

Disclosed by Bank Apr 24, 2019


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Project Description

According to the Bank's website, this project finances a risk-sharing facility between IFC and Sumitomo Mitsui Banking Corporation Group in a portfolio of up to US$500 million of senior loans that the borrower will provide to banks in the Europe and Central Asia region. 

This project is categorised FI-3; a low risk financial institution investment. 

People Affected By This Project

The proposed project is expected to provide financing to key financial intermediaries in the ECA region. Indirectly, this increased capacity will also improve the availability of credit to local producers and importers along the value chain and in a wide variety of sectors. IFC's support is much needed in the region to help financial intermediaries build capacity for their funding needs.

Investment Description
  • International Finance Corporation (IFC)

The project will be in a total amount up to US$500 million. Sumitomo Mitsui Banking Corporation Group will retain at least 50% of the total portfolio exposure, while IFC and its program partners will take the risk of the remaining 50% or up to US$250 million.

Private Actors
Contact Information

No contact information available at time of writing. 

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/