PROJECT

Projects

Summary of Investment Information

Project Number

40903

Company Name

ALTERNATIFBANK ANONIM SIRKETI

Date SPI Disclosed

Jul 18, 2018

Country

Turkiye

Region

Central Asia and Turkiye

Projected Board Date

Aug 30, 2018

Environmental Category

FI-2 - Limited

Status

Completed

Last Updated Date

Aug 30, 2024

Department

Regional Industry - FIG - ECA

Industry

Financial Markets

Previous Events

Approved : May 7, 2019
Signed : May 23, 2019
Invested : May 29, 2019

Sector

Commercial Banking - SME Finance

Project Description

The proposed project is comprised of a senior loan investment in Alternatifbank A.S. (“the “Bank”) of up to $60,000,000 on IFC’s account and up to US$15,000,000 under IFC’s Managed Co-Lending Portfolio Program (“MCPP”). The funding would be used to support the Bank's lending program to small and medium enterprises (“SME”) and/or women-owned SMEs.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation