Early Warning System

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

Sep 12, 2023

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

YAPI VE KREDI BANKASI AS

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

Sectors

Energy
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, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 50.00 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.

Project Cost (USD)

$ 52.80 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.

Primary Source

Original disclosure @ EBRD website

Updated in EWS Oct 13, 2023

Disclosed by Bank Sep 29, 2023

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

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 the Bank’s website, the EBRD has provided USD 52.8 million financing to Yapi ve Kredi Bankasi A.S. ("YKB") under YKB's existing Diversified Payment Rights ("DPR") programme. The proceeds of the financing are USD 52.8 million under the Green Economy Financing Facility ("GEFF"), of which USD 2.8m co-financed by the Clean Technology Fund ("The Project").

The Project will enable YKB to access long-term funding and diversify its funding sources.

Under GEFF, The Project aims to support green economy investments including among others energy efficiency, renewable energy and climate resilience measures. Funds may also be on-lent to vendors and producers of eligible material and equipment covered by the Green Technology Selector for Turkiye. Cooperation will also be sought with YKB and sub-borrowers on the mainstreaming of corporate climate governance ("CCG") and gender-responsive on-lending and better integration of climate change and gender equality considerations into YKB's lending strategies and practices. The financing will be supported by Technical Cooperation ("TC") as envisaged under the GEFF. Concessional financing will also be available to support YKB to integrate climate change into their corporate governance approach.

Investment Description

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

European Bank for Reconstruction and Development (EBRD)

Private Actor 1	Private Actor 1 Role	Private Actor 1 Sector	Relation	Private Actor 2	Private Actor 2 Role	Private Actor 2 Sector
-	-	-	-	Yapi ve Kredi Bankasi A.S.	Client	-

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.

COMPANY CONTACT INFORMATION

Ezgi Bezel
Ezgi.Bezel@yapikredi.com.tr
+90 212 339 7358
+90 212 339 60 60
www.yapikredi.com.tr
Levent Mah. Büyükdere Cad. Çamlik Sok. Yapi Kredi Plaza D Blok, Levent, Besiktas, Istanbul, Turkey

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