PROJECT

Projects

Summary of Investment Information

Project Number

45177

Company Name

DENIZBANK ANONIM SIRKETI

Date SPI Disclosed

Mar 21, 2023

Country

Turkiye

Region

Central Asia and Turkiye

Projected Board Date

Apr 20, 2023

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

May 19, 2023

Department

CF5IS - Regional Industry FIG MCT/FIG MCT Investment Services

Industry

Financial Markets

Previous Events

Approved : May 11, 2023
Signed : May 12, 2023
Invested : May 17, 2023

Sector

Commercial Banking - SME Finance

Project Description

The project aims to support DenizBank A.S (“DenizBank” or the “Bank”), an existing IFC client, with two facilities for a total IFC risk exposure of up to US$ 325 million: (i) an unfunded Risk Sharing Facility (“RSF”) for a US$ 400 million loan portfolio, for which IFC will provide a 50% guarantee with US$ 200 million maximum exposure for IFC; and (ii) US$ 125 million investment by IFC in the form of Diversified Payments Rights (DPR) medium term notes. The use of proceeds for both facilities is to support the Bank's lending program to qualifying agribusiness farmers and MSMEs whose main business or activity is primary agricultural production and/or agricultural product processing facility (which for the avoidance of doubt excludes food and beverage processing) sector in Türkiye (MSMEs). 

                                             

Associated Advisory Engagement

 

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation