PROJECT

Projects

Summary of Investment Information

Project Number

35128

Company Name

BURGAN BANK ANONIM SIRKETI

Date SPI Disclosed

Jul 23, 2015

Country

Turkiye

Region

Central Asia and Turkiye

Projected Board Date

Aug 31, 2015

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Apr 24, 2022

Department

Global Industry, Financial Markets

Industry

Financial Markets

Previous Events

Approved : Oct 2, 2015
Signed : Apr 25, 2016
Invested : Apr 29, 2016

Sector

Commercial Banking - General

Project Description

The Proposed investment involves a senior unsecured loan in the amount of US$40 million for IFC’s own account, and additional financing mobilized through IFC’s Managed Co-lending Portfolio Program (MCPP) in the amount of US$20 million to Burgan Bank S.A. Turkey. The senior loan proceeds in the total amount of US$60 million will be used by the Bank to finance eligible SMEs in Turkey. The investment will be coupled with a Trade Finance facility in the amount of US$50 million.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation