EKIM TURIZM TICARET VE SANAYI A.S (FMO-45038)

Countries
  • Turkey
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
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 7, 2015
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
Ekim (Intercity)
The holder of the loan, grant, or other investment.
Sectors
  • Infrastructure
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)
$ 6.88 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported TRY 20.00 MLN
Converted using 2015-12-07 exchange rate.
Loan Amount (USD)
$ 6.88 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported TRY 20.00 MLN
Converted using 2015-12-07 exchange rate.
Primary Source

Original disclosure @ FMO website

Updated in EWS Jun 25, 2018


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Project Description

FMO purchased a TL 20 million share out of a TL 61 million unsecured bond issued by our longstanding client Intercity. FMO alongside with EBRD acted as anchor investor in the 3 year bond tranche and supported Intercity in its efforts to access capital markets and diversify its funding base. The funds will be used to expand the car fleet of the company. The impact of this project will be Intercity increases mobility all across Turkey for business clients, including a substantial amount of SMEs, through its operational lease services.

Investment Description
  • Netherlands Development Finance Company (FMO)
Contact Information

No contact information at the time of disclosure. 

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism