PROJECT

Projects

Summary of Investment Information

Project Number

33922

Company Name

SEKERBANK TAS

Date SPI Disclosed

Jul 31, 2013

Country

Turkiye

Region

Central Asia and Turkiye

Projected Board Date

Sep 2, 2013

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Jun 12, 2021

Department

Global Industry, Financial Markets

Industry

Financial Markets

Previous Events

Approved : Sep 19, 2013
Signed : Sep 25, 2013
Invested : Sep 30, 2013

Sector

Commercial Banking - General

Project Description

The proposed project consists of a subordinated loan of up to US$50 million to Sekerbank which would qualify as Tier II capital. The proposed investment intends to strengthen Sekerbank’s balance sheet by expanding its capital base, as well as support its growth strategy, focusing on the MSME segment. The subordinated loan would be used to finance the Bank’s lending operations to women owned SMEs (minimum 50% of facility amount) and the MSME segment in general.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation