AK LEASE (FMO-58641)

Countries
  • Turkey
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
Active
Bank Risk Rating
B
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
Dec 4, 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 Lease
The holder of the loan, grant, or other investment.
Sectors
  • Energy
  • 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, etc.
Investment Amount (USD)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Jul 20, 2021


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

Project Description

According to FMO's website, this project provides financing to Ak Lease to fund sub-projects in the renewable energy and energy efficiency sector.

Investment Description
Financial Intermediary
Financial Intermediary: A commercial 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 Actors Description

AK Lease is the 5th leasing company in Turkey in terms of market share, and it is a subsidiary of AK Bank, the 7th largest bank in the country.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Akbank Investor Finance invests in Akfen Altyapi Danismanlik AS Parent Company Energy
Akbank Investor Finance invests in Alasehir Geothermal Power Parent Company Energy
Akbank Investor Finance invests in Antalya Airport Refinancing 2017 Client Transport
Akbank Investor Finance invests in Arkas Holding AS Parent Company Transport
Akbank Investor Finance invests in BOTAS Parent Company Mining
Akbank Investor Finance invests in Botas' and Kolin-Kalyon's FSRU Ships Acquisition Client Mining
Akbank Investor Finance invests in Canakkale Otoyol Client Transport
Akbank Investor Finance invests in Dogus Cay ve Gida Maddeleri Parent Company Construction
Akbank Investor Finance invests in E ON SE Parent Company Energy
Akbank Investor Finance invests in Enerjisa Enerji Uretim As Client Energy
Akbank Investor Finance invests in Enerjisa Uretim Parent Company Energy
Akbank Investor Finance invests in Enerjisa Uretim Refinancing 2020 Client Energy
Akbank Investor Finance invests in Forum Marmara Shopping Mall Client Construction
Akbank Investor Finance invests in Fraport Parent Company Transport
Akbank Investor Finance invests in IC ICTAS Parent Company Transport
Akbank Investor Finance invests in Kalyon Group Parent Company Mining
Akbank Investor Finance invests in Kizildere III Geothermal Client Energy
Akbank Investor Finance invests in Lapseki and Ivrindi Gold Mines Client Mining
Akbank Investor Finance invests in Menzelet Kilavuzlu Elektrik Client Energy
Akbank Investor Finance invests in Tumad Parent Company Mining
Akbank Investor Finance invests in VIP Turkey Enerji AS Client Mining
Akbank Investor Finance invests in Vitol Holding BV Parent Company Mining
Akbank Investor Finance invests in Vitol Invest Partnership Ltd Client Mining
Akbank Investor Finance invests in Yapi Merkezi Parent Company Transport
Akbank Investor Finance invests in Zorlu Holding AS Parent Company Energy
Akfen Altyapi Danismanlik AS Parent Company Energy owns Menzelet Kilavuzlu Elektrik Client Energy
BOTAS Parent Company Mining owns Botas' and Kolin-Kalyon's FSRU Ships Acquisition Client Mining
Dogus Cay ve Gida Maddeleri Parent Company Construction owns Forum Marmara Shopping Mall Client Construction
E ON SE Parent Company Energy owns Enerjisa Enerji Uretim As Client Energy
Enerjisa Uretim Parent Company Energy owns Enerjisa Uretim Refinancing 2020 Client Energy
Fraport Parent Company Transport owns Antalya Airport Refinancing 2017 Client Transport
IC ICTAS Parent Company Transport owns Antalya Airport Refinancing 2017 Client Transport
Tumad Parent Company Mining owns Lapseki and Ivrindi Gold Mines Client Mining
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
Yapi Merkezi Parent Company Transport owns Canakkale Otoyol Client Transport
Zorlu Holding AS Parent Company Energy owns Kizildere III Geothermal Client Energy

Contact Information

PROJECT CONTACT INFORMATION
Not available at the time of disclosure

ACCESS TO INFORMATION
As part of FMO's ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to: disclosure@fmo.nl

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