Teb Arval SL (IFC-51120)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Turkiye
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
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
Apr 20, 2026
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
TEB ARVAL ARAC FILO KIRALAMA A.S
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Finance
  • Transport
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 50.00 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.
Loan Amount (USD)
$ 50.00 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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Mar 24, 2026

Disclosed by Bank Mar 12, 2026

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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.

As stated by the IFC, the proposed investment is a senior loan package of up to US$50 million equivalent in Turkish Lira to TEB Arval Arac Filo Kiralama A.S. (TEB Arval or the Company). The financing is to be used exclusively for financing the Company’s acquisition of sustainable transport assets, including both EVs and Hybrid Vehicles and accessory charging stations.                                                    

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

According to the IFC, the investment consists of a senior unsecured loan of up to US$ 50 million equivalent in Turkish Lira to TEB Arval to finance the Company's acquisition of sustainable transport assets, including both EVs and Hybrid Vehicles and accessory charging stations.  

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by the IFC, TEB Arval was incorporated in Türkiye in 2007, as a JV between TEB Holding A.S. and Arval Service Lease SA (Arval), each holding 50%. TEB Holding A.S. is a joint venture between BNP Paribas Fortis Yatirimlar A.S., an investment vehicle holding BNP Paribas Group (BNPP) assets in Türkiye, and Colakoglu Group. The Company offers full-service leasing and mobility solutions to corporate and SME clients, covering operational services such as vehicle procurement, financing, management, maintenance and repair.

Arval is a global full-service vehicle leasing and fleet management company, founded in 1989 and headquartered in France. It is a wholly owned subsidiary of BNP Paribas, operating as part of the group's commercial, personal banking and services division.

Arval specializes in long-term vehicle leasing and integrated mobility solutions for corporate clients, SMEs, and retail customers. Its services typically include vehicle financing, maintenance, insurance, tire management, fuel cards, telematics, resale, and fleet consulting. The company operates in nearly 30 countries and manages a fleet of more than 1.5 million vehicles worldwide (including partnerships), positioning it among the leading global fleet leasing providers.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Arval Service Lease SA Parent Company Finance contracts with TEB Holding A.S Parent Company Finance
BNP Paribas Parent Company Finance owns BNP Paribas Fortis Yatirimlar A.S. Parent Company Finance
BNP Paribas Fortis Yatirimlar A.S. Parent Company Finance owns TEB Holding A.S Parent Company Finance
Colakoglu Group Parent Company Industry and Trade contracts with BNP Paribas Parent Company Finance
Colakoglu Group Parent Company Industry and Trade owns BNP Paribas Fortis Yatirimlar A.S. Parent Company Finance

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.

Financial Intermediary - TEB Arval Arac Filo Kiralama A.S.:

Fatma Reyhan Kaboglu - CFO
Phone: 0533 714 63 70
Email: reyhan.kaboglu@tebarval.com.tr
Website: http://www.tebarval.com.tr/ 

General IFC Inquiries - IFC Communications:

Address: 2121 Pennsylvania Avenue, NW, Washington DC 20433
Telephone: +1 202-473-3800
Fax: +1 202-974-4384

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org

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How it works