GTLP SMBC Turkey III (IFC-45905)

  • World
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
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 9, 2021
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.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 275.00 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.
Primary Source

Original disclosure @ IFC website

Updated in EWS Nov 9, 2021

Disclosed by Bank Sep 17, 2021

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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.

The Project is a three-year, unfunded risk sharing facility (the “Facility”) whereby Sumitomo Mitsui Banking Corporation and its affiliates (SMBC Group) and IFC would share the risk, on an up to 50-50% basis, in a portfolio of up to US$550 million of senior trade loans that SMBC Group provides to banks in the Europe and Central Asia (ECA) region. The proposed project is a renewal of prior SMBC ECA RSF projects.

This project was rated by IFC as having a risk category of F1-2.

People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

The proposed project is expected to provide financing to key financial intermediaries in the ECA region, particularly Turkey in the face of economic, trade, and supply chain disruptions caused by COVID-19. Indirectly, this increased capacity will also improve the availability of credit to local importers and exporters along key value chains and in a wide variety of sectors.

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.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

 SMBC Group was established in April 2001 by the merger of two leading Japanese banks: The Sumitomo Bank and the Sakura Bank. SMBC Group is a wholly owned subsidiary of the holding company, Sumitomo Mitsui Financial Group (SMFG), a financial conglomerate including other financial services such as leasing, securities, credit card, mortgage and venture capital.

SMBC Group is one of the largest commercial banks in Japan with an extensive network and growing international presence and is one of the key partners for IFC. As of March 31, 2021, SMBC Group had over 850 branches/offices in Japan, and 148 overseas branches/offices in the US, Europe, Latin America, Africa, the Middle East and Asia (ex. Japan).

As of March 31, 2021, SMBC (excluding group companies) had total assets of USD 2,191bn, total deposits stood at USD 1,283bn and total equity at USD 86bn. SMBC Group is rated “A” by Fitch, “A-” by Standard & Poor’s, and “A1” by Moody’s.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - Sumitomo Mitsui Banking Corporation Undisclosed -

Contact Information
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**Project lead information was not provided at the time of disclosure.**



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