PROJECT

Projects

Summary of Investment Information

Project Number

48978

Company Name

TURK EKONOMI BANKASI ANONIM SIRKETI

Date SPI Disclosed

Dec 2, 2024

Country

Turkiye

Region

Central Asia and Turkiye

Projected Board Date

Apr 29, 2024

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Dec 2, 2024

Department

Regional Industry FIG MCT

Industry

Financial Markets

Previous Events

Approved : Apr 29, 2024
Signed : May 6, 2024
Invested : May 8, 2024

Sector

Commercial Banking - General

Project Description

 The proposed project is an investment of up to EUR100 million for IFC's own account in a Basel 3 Tier II (B3T2) Note to be issued by Türk Ekonomi Bankasi (“TEB” or “the Bank”), the 7th largest private bank in Türkiye and a subsidiary of BNP Paribas (“BNPP” or “BNP”). IFC's investment will provide long-term capital that will enable the bank to continue supporting SMEs in Türkiye for women owned businesses, climate mitigation projects and agricultural sector.

                                                  

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation