Turkey Women in Business: QNB Finansbank II (EBRD-48751)

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
Apr 5, 2017
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
QNB Finansbank A.S
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)
$ 53.36 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 50 million
Converted using 2017-04-05 exchange rate.
Loan Amount (USD)
$ 53.36 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 50 million
Converted using 2017-04-05 exchange rate.
Project Cost (USD)
$ 53.36 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 50 million
Converted using 2017-04-05 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Feb 23, 2018

Disclosed by Bank Mar 2, 2017


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

Project Description

According to EBRD website, this project involves a senior unsecured loan of up to EUR 50 million to QNB Finansbank A.S, a commercial bank incorporated in Turkey, to provide financing for womenled small and medium-sized enterprises (SMEs) to promote women entrepreneurship in Turkey. QNB Finansbank is an existing partner bank under the Turkey Women in Business programme. 

The facility is a sub-project under Turkey Women in Business Framework, which is an integrated and dedicated programme in Turkey targeting women-led SMEs. It aims to promote women entrepreneurship and access to finance and women's participation in business more broadly. This will be achieved through the development of a stronger women-led SME sector in Turkey by facilitating access to finance and advice for women-led SMEs.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Contact Information

Project Contact: Ms. Isil Gurbuz
Email Address: isil.gurbuz@qnbfinansbank.com.tr
Telephone No.: 0212 318 5168, 0212 318 5648
Website: http://www.qnbfinansbank.com/en/default.aspx
Office Address: QNB Finansbank, Kristal Kule Buyukdere Caddesi No: 215 4 Levent Istanbul 

General enquiries to EBRD: 
Telephone No.: +44 20 7338 7168
Email Address: projectenquiries@ebrd.com

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.