This project provides financing to Alternatifbank A.S. to support its lending to small and medium-sized enterprises (SMEs) and/or women-owned SMEs.
The financing will comprise of a senior loan of up to US$60 million for IFC’s own account, and up to US$15 million under IFC’s Managed Co-Lending Portfolio Program.
There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries financed by the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).
The relationships listed below contain information about the high-risk subprojects of IFC and FMO's financial intermediary investments made from 2017 through 2020, and any associated ring fences.
The database does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries.
For more information, please review our Methodology.
Alternatifbank is owned by The Commercial Bank (P.S.Q.C.), the second largest Qatari conventional bank.
Financial Institutions Manager
Cumhuriyet Cad.No. 46 Elmadag, 34367, Sisli, Istanbul
ACCOUNTABILITY MECHANISM OF IFC
The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/