Garanti DPR - TurWIB (EBRD-48248)

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
Completed
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
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
Jul 20, 2016
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 Garanti Bankasi A.S
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Finance
  • Technical Cooperation
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)
$ 55.10 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 EUR 50 million (in USD equivalent)
Converted using 2016-07-20 exchange rate.
Loan Amount (USD)
$ 55.10 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 50 million
Converted using 2016-07-20 exchange rate.
Project Cost (USD)
$ 55.10 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 EUR 50 million
Converted using 2016-07-20 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jun 18, 2024

Disclosed by Bank Jan 3, 2017

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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.

According to EBRD website, the project comes under the TurWiB framework, which is an integrated and dedicated programme supporting women entrepreneurship and women-led SMEs. The goal of the facility is to strengthen women's participation in the economy by improving access to finance and advice. The proposed facility to Garanti will be supported by (i) a technical cooperation programme to help the bank develop financial products that meet the specific needs of women-led enterprises, and (ii) a risk sharing mechanism to stimulate lending to this group on a sustainable basis. It will benefit from synergies with the Women in Business Small Business Support component; which constitute the grant component of the TurWiB programme.

In addition, the facility will be supported by a comprehensive technical cooperation programme focusing on institutional capacity building, product development and marketing and outreach activities to build Garanti's capacity to reach out to women-led SMEs. The overall objective of the technical cooperation will be to support Garanti in the process of better understanding the financial needs of the women-led SME segment, and enable it to develop adequate customer information systems, optimise its lending procedures, and develop and market products and services to respond to the segment needs. The technical cooperation for the programme will be jointly funded by the EU's Instrument for Pre-Accession Assistance (IPA) and the Turkish Ministry of Labour and Social
Security.

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 risk as 'FI'.

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.

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.

Project Contact: Gencay Gedik
Email Address: gencayge@garanti.com.tr
Telephone No.: 0090 212 318 17 33, 0090 212 216 62 17
Website: www.garanti.com.tr
Office Address: Levent, Nispetiye Mah. Aytar Cad. No:2 34340 Besiktas, Istanbul, Turkey

General enquiries to EBRD: 
Telephone No.: +44 20 7338 7168
Email Address: projectenquiries@ebrd.com

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, 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.

How it works

How it works