PROJECT

Projects

Summary of Investment Information

Project Number

33950

Company Name

YAPI KREDI FINANSAL KIRALAMA ANONIM ORTAKLIGI

Date SPI Disclosed

Jul 2, 2014

Country

Turkiye

Region

Central Asia and Turkiye

Projected Board Date

Aug 4, 2014

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Feb 10, 2026

Department

Regional Industry - FIG - ECA

Industry

Financial Markets

Previous Events

Approved : Aug 7, 2014
Signed : Sep 12, 2014
Invested : Sep 19, 2014

Sector

Leasing Services

Project Description

The project involves a six year senior loan of up to US$96 from its own accounts and up to US$32 million from IFC acting in its capacity as implementing entity for the Managed Co-Lending Portfolio Program. The project is intended to be used by YKL to finance eligible sustainable energy finance (“SEF”) projects.

YKL has been a pioneer in the SEF space in Turkey, being the first to borrow (US$50 million) from IFC to support SEF in June 2008. YKL borrowed a further US$25 million from IFC, including US$5 million from the Clean Technology Fund (“CTF”) in June 2010 to promote SEF. Both of these facilities are amortizing; therefore, the proposed project plans to extend another facility to support SEF, a strategic segment YKL has chosen to further grow.

Established in 1987, YKL is the leading leasing company in Turkey. As of FYE13 YKL had total assets of US$2.2 billion on its balance sheet and registered a net income of US$73 million. YKL has 12 branches in Turkey. In addition to its own branches, YKL utilizes Yapi Kredi Bank (“YKB”) for its outreach in Turkey.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation