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As stated by the EBRD, the project consists of a senior secured loan to Dunya Varlik Yonetim AS in amount of up to EUR 10 million in TRY equivalent, for 5 years including 2 year grace period, provided for acquisition of new non-performing loan portfolios in Turkiye.
The loan will support Company's acquisition of new NPL portfolios in the country in challenging macroeconomic and political environment including hyperinflation, weakening of Turkish Lira as well as high cost of funding. With a weighted average life ("WAL") of 3.5 years, the loan will provide a stable source of long-term funding for Dunya Varlik Yonetim AS and will allow for stronger participation in local sale of the portfolios.
The EBRD categorized the project environmental and social risk as 'FI'.
As stated by the EBRD, established in 2008, Dunya Varlik Yonetim AS is the second largest NPL and distressed asset management company in Turkiye out of 27 players with 18% market share based on Unpaid Principal Balance. As of YE24, total assets were TRY 5.9bn, total equity was TRY 2.7bn and net profit for 2024 was TRY 0.9bn. The Company is currently the EBRD's only NPL asset management partner in Turkiye.
Financial Intermediary - Dunya Varlik Yonetim AS:
Onur Gören
Email: Onur.Goren@dunyavarlik.com
Phone: +90 850 22 22 850
Fax: +90 850 480 70 71
Website: https://www.dunyavarlik.com/
Address: Buyukdere Cad. Astoria AVM B Blok No:127 Sisli, Istanbul TURKIYE
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