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As stated by the EBRD, the project consists of a senior unsecured loan of up to EUR 25 million (or its USD equivalent) in favour of Burgan Bank A.S. (BB), for on-lending to sub-borrowers implementing green economy investments including, among others, energy efficiency, renewable energy and climate resilience measures under the Turkiye Green Economy Financing Facility II.
BB will direct funds to the real economy, supporting delivery of EBRD's Green transition quality. Proceeds of the loan will be dedicated to financing green economy investments, in a gender responsive way, in line with the GEFF II Framework's technical eligibility criteria as defined in the Policy Statement.
The project will be supported by a TC package for the engagement of the Facility Consultant, responsible for overseeing the general operation of the Facility, for origination, review and approval of sub-projects in line with eligibility requirements. A separate gender TC will support implementation of gender activities under GEFF II, that aim to enhance women and men's equal opportunity to access finance for green technologies.
The EBRD categorized the project environmental and social risk as 'FI'.
As stated by the EBRD, Burgan Bank A.S. is a mid-size commercial bank ranking 20th by total asset size in Turkiye. The bank provides services through its 26 branches located in 13 important industrial and trade regions of Turkiye and 1,510 employees to its wide customer base in corporate, commercial, and retail banking segments cooperating in synergy with its subsidiaries, BB Leasing and BB Securities. As of YE24, BB reported consolidated assets of EUR 3.4bn and total equity of EUR 285mn. BB is rated BB- (Stable) by Fitch. BB is a Turkish subsidiary of Burgan Bank Kuwait.
Financial Intermediary - Burgan Bank A.S.:
Gulsah Turan
Email: gturan@burgan.com.tr
Phone: +90 2123713737
Website: https://www.burgan.com.tr/
Address: Burgan Bank AS, Maslak Mah. Eski Büyükdere Cad. No:13 PK: 34485 Sariyer / Istanbul Türkiye
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