Original disclosure @ EBRD website
Updated in EWS Jan 28, 2019
Disclosed by Bank Feb 28, 2018
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This project invests in a bond issued by Yapi ve Kred Bankasi AS, the fifth largest bank in Turkey, that uses residential mortgage loans as collateral. Proceeds from this investment will finance energy utilization investments, increase public awareness about sustainable energy in the residential sector, and assist households in Turkey in mitigating increasing energy prices and high energy intensity under the EBRD's Turkey Residential Energy Efficiency Financing Facility.
Yapi ve Kred Bankasi AS is the fifth largest bank in Turkey with market share of 9.6 per cent by customer deposits. Currently, Koc Financial Services A.S. (KFS) holds 81.8 per cent of YKB's outstanding shares, while the remaining 18.2 per cent are listed on Borsa Istanbul. KFS is a 50-50 Joint Venture between Turkish Koc Holdings and UniCredit Bank Austria, which is ultimately owned by UniCredit S.p.A.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
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Tules Akinci, Head of Debt Capital Markets, Financial Institutions
+90 212 3397819
+90 212 3396060
Yapi ve Kredi Bankasi A.S. - Head Office Buyukdere Cad. Yapi Kredi Plaza D Block, Levent 34330
ACCOUNTABILITY MECHANISM OF EBRD
The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at firstname.lastname@example.org or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.