TurSEFF III - Aklease II (EBRD-52713)

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 13, 2021
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)
$ 29.89 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 25 million
Converted using 2021-04-13 exchange rate.
Project Cost (USD)
$ 29.89 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 25 million
Converted using 2021-04-13 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 21, 2021

Disclosed by Bank Apr 14, 2021


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Project Description

The transaction will contribute to the objectives of TurSEFF III by supporting the "Green" and "Competitive" transition impact qualities towards building a green economy by facilitating the expansion of resource efficiency and renewable energy lending while building a more competitive financial sector through developing the internal capacity of the participating financial institutions for financing green economy projects in Turkey. The proceeds of the EBRD's investment will be used to on-lend to eligible companies to finance resource efficiency and small-scale renewable energy investments. The proposed transaction will be the eighth sub-project and AkLease's second under the Framework.

 

 

 

Investment Description

Contact Information

Avni Bayazit
avni.bayazit@aklease.com
+90 (0) 212 386 96 53
+ 90 (0) 212 386 96 59

 

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