PROJECT

Projects

Summary of Investment Information

Project Number

48794

Company Name

AKBANK TURK ANONIM SIRKETI

Date SPI Disclosed

Dec 1, 2023

Country

Turkiye

Region

Central Asia and Turkiye

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Dec 9, 2023

Department

Regional Industry FIG MCT

Industry

Financial Markets

Previous Events

Approved : Jul 13, 2023
Signed : Nov 29, 2023
Invested : Dec 7, 2023

Sector

Commercial Banking - SME Finance

Project Description

The proposed financing package (the Project) to Akbank consists of (i) IFC A Loans of up to US$60 million on own account (including US$10 million credit insurance); and (ii) B1 Loans of up to US$11 million equivalent.

 The proposed investment is a part of IFC’s wider earthquake response project (FIG TUR-ER, Project #48230) which entails up to US$600 million to 5 Turkish banks. The investment will support Akbank’s lending program to Retail customers and Micro, Small and Medium Enterprises (MSMEs) in the Earthquake Region.

                                                

Associated Advisory Engagement

                   

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation