PROJECT

Projects

Summary of Investment Information

Project Number

31274

Company Name

QNB Bank AS

Date SPI Disclosed

Jun 29, 2012

Country

Turkiye

Region

Central Asia and Turkiye

Projected Board Date

Jul 31, 2012

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Global Industry, Financial Markets

Industry

Financial Markets

Previous Events

Approved : Nov 14, 2012
Signed : Dec 18, 2012
Invested : Dec 20, 2012

Sector

Commercial Banking - Microfinance

Project Description

IF C proposes to purchase up to US$75 million in bonds (up to five years) issued via a Special Purpose Vehicle (SPV) under a Diversified Payment Rights (“DPR”) securitization structure by Finansbank in Turkey. The proceeds will be used to finance Micro, Small and Medium Enterprises (“MSMEs”).

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation