Turk Telekom International (EBRD-47926)

Countries
  • Turkey
Geographic location 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
Proposed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Jan 13, 2016
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
MTCTR MEMOREX TELEKOMUNIKASYON SANAYI VE TICARET AS
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Communications
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 48.70 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 44,740,727.00
Converted using 2016-10-06 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS May 1, 2017

Disclosed by Bank Oct 6, 2016


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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.
The EBRD is providing a loan of up to USD 50 million to MTCTR Memorex Telekomunikasyon Sanayi ve Ticaret Ltd. Sti., a group company of Turk Telekom, the leading communication and convergence technology group in Turkey offering its customers the complete range of fixed voice, mobile, data, and internet services as well as innovative convergence technologies. The financing will be used to support the investment in submarine cable project as part of the Sea-Me-We-5 consortium.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Turk Telekom is the incumbent operator and leading communication and convergence technology group in Turkey. Turk Telekom and its subsidiaries provide integrated telecoms services from fixed and mobile voice to broadband internet. MTCTR Memorex Telekomunikasyon Sanayi ve Ticaret Ltd. St is a company part of Turk Telekom International group of companies.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
Turk Telekom Investor Relations Email: investorrelations@turktelekom.com.tr Telephone: +90 212 309 9630 +90 212 352 9610 Website: http://www.ttinvestorrelations.com/contact/ Yildiz Posta Cad. Vefa Bayiri Sok. Besiktas/Istanbul TURKEY 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.

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How it works