RF - Aklease (EBRD-51724)

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, 2020
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
AK FINANSAL KIRALAMA AS
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)
$ 45.00 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 EUR 40,000,000.00
Converted using 2020-06-24 exchange rate.
Project Cost (USD)
$ 45.00 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 EUR 40,000,000.00
Converted using 2020-06-24 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 29, 2020

Disclosed by Bank Jul 24, 2020


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

Project Description

According to the Bank's website, the project provides funding to the Ak Finansal Kiralama A.S to fund SMEs in in Turkey to mitigate negative impacts of Covid-19.

This project was approved as part of the Bank's response to the Covid-19 pandemic.

 

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

COMPANY CONTACT INFORMATION

Aklease Financial Institution savni.bayazit@aklease.com; +90 (0) 212 386 96 53; + 90 (0) 212 386 96 59 www.aklease.com Sabanci Center Kule:2 Kat: 9 4.Levent 34330, ISTANBUL

ACCESS TO INFORMATION

You can request information by emailing: accessinfo@ebrd.com or by using this electronic form: https://www.ebrd.com/eform/information-request

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 at: 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