FIF - Finansbank MSME Financing Facility - DPR (EBRD-47647)

Countries
  • Turkey
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
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
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
Jun 24, 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
Finansbank
The holder of the loan, grant, or other investment.
Sectors
  • Agriculture and Forestry
  • 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)
$ 100.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 280.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Aug 11, 2017

Disclosed by Bank Oct 16, 2015


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description
This project finances support to Finansbank for its on-lend to eligible micro, small, and medium-sized enterprises in priority regions in Turkey, with a specific focus on agribusiness for 40% of the facility.
Investment Description
  • European Bank for Reconstruction and Development (EBRD)
The EBRD has invested US$100 million, in rated senior bond notes, issued under Finansbank’s existing Diversified Payment Rights programme. EBRD’s notes are backed by specifically defined foreign currency denominated payment orders of Finansbank. Finansbank was incorporated in 1987 and is the 6th largest private commercial bank in Turkey, with total assets of €28 billion, representing 3.8 per cent market share. Its activities include trade finance, corporate and commercial banking, treasury, retail banking and credit operations. Finansbank operates through a total of 658 branches and is currently rated Ba2 by Moody’s and BBB- by Fitch.
Contact Information
Company Contact Ms. Isil GURBUZ Division Manager Banking Relations and Structured Funding International Division Tel: +90 212 318 5168 Fax: +90 212 318 5648 isil.gurbuz@finansbank.com.tr 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 pcm@ebrd.com 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.