PROJECT

Projects

Summary of Investment Information

Project Number

39403

Company Name

TURKIYE IS BANKASI ANONIM SIRKETI

Date SPI Disclosed

Sep 27, 2017

Country

Turkiye

Region

Central Asia and Turkiye

Projected Board Date

Nov 10, 2017

Environmental Category

FI-3 - No Impact

Status

Active

Last Updated Date

Jan 4, 2018

Department

Regional Industry - FIG - ECA

Industry

Financial Markets

Previous Events

Approved : Dec 20, 2017
Signed : Dec 22, 2017
Invested : Dec 28, 2017

Sector

Commercial Banking - Housing Finance

Project Description

The proposed investment entails a purchase of up to US$150 million in new notes issuances from TIB Diversified Payment Rights Finance Company (“TIB DPR Company”) under the existing Diversified Payment Rights (“DPR”) securitization program of Turkiye Is Bankasi A.S. (“Isbank”, or the “Bank”). The proceeds from IFC's investment, with a potential co-investment from the Clean Technology Fund (“CTF”), would support Isbank's residential mortgage lending, including green mortgages, which meet IFC's green mortgage criteria.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation