Long Term Export Finance (WB-P156252)

Countries
  • Turkey
Where the impacts of the investment may be experienced.
Financial Institutions
  • World Bank (WB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jul 18, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Turkiye Ihracat Kredi Bankasi (Turk Eximbank)
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Amount (USD)
$ 300.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 300.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ WB website

Updated in EWS Jul 24, 2017

Disclosed by Bank Mar 3, 2016


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

Project Description
The stated development objective of this project is to improve access to longer term finance for export oriented small, medium and large enterprises. According to the bank, this project has two components. 1) The first component, Eximbank will on-lend funds through Project Financial Intermediaries (PFIs) to Small and Medium Enterprises (SMEs) and Large Enterprises (LEs), Eximbank will select PFIs according to criteria agreed upon with the World Bank, and subject to the no objection of the World Bank. PFIs can be banks (including participation banks, i.e. Islamic finance) and leasing companies. The selected PFIs will, in turn, provide sub-finance to private export oriented LEs and SMEs, the sub- beneficiaries of the credit line.
Investment Description
  • World Bank (WB)
Contact Information
ACCOUNTABILITY MECHANISM OF WORLD BANK The World Bank Inspection Panel is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by a World Bank-financed project. If you submit a complaint to the Inspection Panel, they may investigate to assess whether the World Bank is following its own policies and procedures for preventing harm to people or the environment. You can contact the Inspection Panel or submit a complaint by emailing ipanel@worldbank.org. You can learn more about the Inspection Panel and how to file a complaint at: http://ewebapps.worldbank.org/apps/ip/Pages/Home.aspx.