Early Warning System

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

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

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

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

May 29, 2025

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

Turkiye Sinai Kalkinma Bankasi A.S. (TSKB)

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Finance
Industry and Trade

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)

$ 85.32 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.
Currency conversion note:
Bank reported 75
Converted using 2025-05-29 exchange rate.

Loan Amount (USD)

$ 85.32 million

Project Cost (USD)

$ 85.32 million

Bank Documents

PSD Translation (Turkish)

Primary Source

Original disclosure @ EBRD website

Updated in EWS Jul 14, 2025

Disclosed by Bank Jun 9, 2025

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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 EBRD, the project consists of a senior unsecured loan to Turkiye Sinai Kalkinma Bankasi A.S. (TSKB) in the amount of EUR 75 million for on lending to companies that promote inclusive policies and practices. At least 15% of the loan will be allocated to "youth-inclusive" companies that implement policies and practices to support youth employment. In addition, at least 15% of the loan will be allocated to companies operating/investing in the earthquake-affected regions. The remaining portion will be allocated to "women-inclusive" companies, which implement inclusive policies and practices to support women employment and leadership.

The loan will be the first cooperation between EBRD and TSKB on inclusive finance area, combining multiple elements, namely: women-inclusive financing under TSKB's established and proven framework, a pioneering youth employment focus, and targeted financing for the earthquake-affected regions to support the preservation and rebuilding of livelihoods, jobs, and human capital in the region.

The project will include a TC component, under which the consultant will deliver capacity building trainings for sub-borrowers on inclusive HR practices. The trainings will help building awareness around inclusive HR practices and developing sub-borrower capacity to adopt and implement these initiatives.

Early Warning System Project Analysis

For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

The EBRD categorized the project environmental and social risk as 'FI'.

Investment Description

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

European Bank for Reconstruction and Development (EBRD)

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.

Turkiye Sinai Kalkinma Bankasi A.S. (TSKB) (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 EBRD, TSKB is a listed private sector development and investment bank in Turkiye with a mandate to encourage sustainable and inclusive private industrial development, attract long-term foreign capital into the country and develop capital markets. Isbank is the majority shareholder with 47.7% stake, followed by Vakifbank with 8.4% stake and with the remaining 43.9% of the shares publicly traded on Borsa Istanbul. TSKB has c. 1% market share with EUR 6.5bn in total assets, EUR 4.6bn in gross loans and EUR 0.9bn in capital as of YE24.

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 - Turkiye Sinai Kalkinma Bankasi A.S. (TSKB):

Mustafa Bahadir Kocaker
Email: kocakerb@tskb.com.tr
Phone: +90 (212) 334 5318
Fax: +90 (212) 334 5234
Website: https://www.tskb.com.tr/en
Address: Meclisi Mebusan Cad. 81 Findikli Istanbul 34427

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