FINANS FINANSAL KIRALAMA A.S. (FMO-51736)

Countries
  • Turkiye
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
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 6, 2017
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
Finans Leasing
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Ring Fence
  • Climate
A financial intermediary is a commercial bank or financial institution that receives funds from a development bank, sometimes for a specific lending purpose. A "ring fence" is another name for this specific purpose. These funds are then used for lending by the financial intermediary to client companies or individuals.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 35.00 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)
$ 35.00 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 @ FMO website

Updated in EWS Sep 1, 2021

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

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.

According to FMO website, the project will support a professional player in the Turkish leasing sector. FMO will provide long-term funding in local currency (TRY) with a sizable and fast growing portfolio of renewable energy/energy efficiency projects.

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

There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).

The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.

The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Abraaj Invest Mgmt Ltd Parent Company Industry and Trade owns Egyptian Fertilizers Co SAE Client Industry and Trade
Adaro Energy Tbk PT Parent Company Mining owns SIS Client Mining
Al Khaleej Sugar Co Parent Company Agriculture and Forestry owns Al Canal Sugar Client Agriculture and Forestry
Cengiz Holding AS Parent Company Energy owns AEDC Privatization Client Energy
Conoco Pennzoil Parent Company Energy owns Immingham CHP Client Energy
Electricity Holding Co SAOC Parent Company Energy owns Duqm Refinery Client Energy
Energy Capital Partners Parent Company Construction owns Saltend Combined-Cycle Gas Client Construction
Norsk Hydro ASA Parent Company Mining owns Qatar Aluminium QSC Client Mining
Oman Oil Co SAOC Parent Company Mining owns Salalah LPG Client Mining
Puma Energy Parent Company Mining owns Puma Energy Corporate Facility 2018 Client Mining
QNB Group Investor Finance invests in Abraaj Invest Mgmt Ltd Parent Company Industry and Trade
QNB Group Investor Finance invests in Adani Electricity Mumbai Ltd Parent Company Energy
QNB Group Investor Finance invests in Adaro Energy Tbk PT Parent Company Mining
QNB Group Investor Finance invests in AEDC Privatization Client Energy
QNB Group Investor Finance invests in Al Canal Sugar Client Agriculture and Forestry
QNB Group Investor Finance invests in Al Khaleej Sugar Co Parent Company Agriculture and Forestry
QNB Group Investor Finance invests in Bogazici Elektrik Dagitim AS Parent Company Energy
QNB Group Investor Finance invests in Camlibel Elektrik Dagitim AS Client Energy
QNB Group Investor Finance invests in Cengiz Holding AS Parent Company Energy
QNB Group Investor Finance invests in Conoco Pennzoil Parent Company Energy
QNB Group Investor Finance invests in Dongying Fangyuan Non-ferrous Parent Company Construction
QNB Group Investor Finance invests in Duqm Refinery Client Energy
QNB Group Investor Finance invests in Egyptian Fertilizers Co SAE Client Industry and Trade
QNB Group Investor Finance invests in Egyptian Gen Petro Corp Parent Company Mining
QNB Group Investor Finance invests in Electricity Holding Co SAOC Parent Company Energy
QNB Group Investor Finance invests in Energy Capital Partners Parent Company Construction
QNB Group Investor Finance invests in Gajah Tunggal Tbk PT Parent Company Transport
QNB Group Investor Finance invests in Glenmark Pharmaceuticals Ltd Parent Company Education and Health
QNB Group Investor Finance invests in Immingham CHP Client Energy
QNB Group Investor Finance invests in Norsk Hydro ASA Parent Company Mining
QNB Group Investor Finance invests in Oman Oil Co SAOC Parent Company Mining
QNB Group Investor Finance invests in Oxley Holdings Ltd Parent Company Industry and Trade
QNB Group Investor Finance invests in Peugeot SA Parent Company Transport
QNB Group Investor Finance invests in Plaza Indonesia Realty Tbk PT Parent Company Industry and Trade
QNB Group Investor Finance invests in PT Delta Dunia Textile Parent Company Industry and Trade
QNB Group Investor Finance invests in Puma Energy Parent Company Mining
QNB Group Investor Finance invests in Puma Energy Corporate Facility 2018 Client Mining
QNB Group Investor Finance invests in Puma Energy Holdings Pte Ltd Parent Company Mining
QNB Group Investor Finance invests in Qatar Aluminium QSC Client Mining
QNB Group Investor Finance invests in Salalah LPG Client Mining
QNB Group Investor Finance invests in Salalah Methanol Co LLC Parent Company Mining
QNB Group Investor Finance invests in Saltend Combined-Cycle Gas Client Construction
QNB Group Investor Finance invests in SIS Client Mining
QNB Group Investor Finance invests in Turkiye Elektrik Dagitim AS Parent Company Energy
QNB Group Investor Finance invests in Uludag Elektrik Dagitim AS Client Energy
QNB Group Investor Finance invests in VIP Turkey Enerji AS Client Mining
QNB Group Investor Finance invests in Vitol Holding BV Parent Company Mining
QNB Group Investor Finance invests in Vitol Invest Partnership Ltd Client Mining
Turkiye Elektrik Dagitim AS Parent Company Energy owns Camlibel Elektrik Dagitim AS Client Energy
Turkiye Elektrik Dagitim AS Parent Company Energy owns Uludag Elektrik Dagitim AS Client Energy
Vitol Holding BV Parent Company Mining owns VIP Turkey Enerji AS Client Mining
Vitol Holding BV Parent Company Mining owns Vitol Invest Partnership Ltd Client Mining

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.

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism

How it works

How it works