PROJECT

Projects

Summary of Investment Information

Project Number

43903

Company Name

DENIZBANK ANONIM SIRKETI

Date SPI Disclosed

Dec 18, 2020

Country

Turkiye

Region

Central Asia and Turkiye

Projected Board Date

Jan 22, 2021

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Aug 9, 2021

Department

CF2S8 - Regional Industry - FIG - ECA/FIG Inv Operations - ECA

Industry

Financial Markets

Previous Events

Approved : Feb 5, 2021
Signed : Feb 11, 2021
Invested : Feb 18, 2021

Sector

Commercial Banking - General

Project Description

The project aims to provide financing to DenizBank A.S (“DenizBank” or the “Bank”),  a former IFC client, up to US$150 million in the form an investment in the Diversified Payments Rights (“DPR”) medium-term notes. The proceeds of IFC financing would be used to provide access to finance to micro, small, and medium size enterprises (“MSME”s) in the agriculture sector, with partial proceeds serving underdeveloped provinces of Turkey which have been impacted by the refugee influx.

In addition, IFC is considering to establish a trade finance guarantee facility for the Bank in the amount of US$100 million under the IFC Global Trade Finance Program (“GTFP”).

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation