PROJECT

Projects

Summary of Investment Information

Project Number

48793

Company Name

YAPI VE KREDI BANKASI ANONIM SIRKETI

Date SPI Disclosed

Sep 5, 2024

Country

Turkiye

Region

Central Asia and Turkiye

Projected Board Date

Jul 13, 2023

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Sep 5, 2024

Department

CF5CT - Regional Industry FIG MCT/FIG Central Asia & Turkey

Industry

Financial Markets

Previous Events

Approved : Jul 13, 2023
Signed : Dec 15, 2023
Invested : Dec 22, 2023

Sector

Commercial Banking - SME Finance

Project Description

The proposed financing package to Yapi ve Kredi Bankasi A.S. (YKB or the Bank) consists of (i) an IFC A Loans of up to US$60 million on own account (including US$ 10 million credit insurance) and ii) a Bl Loans ofup to US$20 million equivalent (the Project). The proposed investment is a part ofIFC's wider earthquake response project (FIG TUR-ER, Project #48230) which entails up to US$600 million to 5 Turkish banks. The Project will support YKB to meet the immediate demand for Retail/Micro/Small/medium sized business loans in the Earthquake Region, and further support the Bank to extend new loans to the aforementioned segments in the Region, thus supporting post-earthquake relief and recovery efforts.  

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation