49408 - IS Leasing Loan

Who We Are
Who We Are

IFC is the largest global development institution focused on the private sector in developing countries. By encouraging growth, IFC advances economic development, creates jobs and improves the lives of people.
More About Us
About IFC

Our Leadership

Development Partners
Accountability

Learn more about accountability
Annual Report

Download the Report
What We Do
What We Do

IFC advances economic development and improves the lives of people by encouraging the growth of the private sector in developing countries. We achieve this by investing in impactful projects, mobilizing other investors, and sharing expertise.
What We Do Overview
SOLUTIONS

Our products and services
OUR PRIORITIES

Climate Business

Fragile & Conflict Afflicted Situations

Gender

Mobilizing Private Capital

Sustainability
SECTORS & EXPERTISE

Agribusiness & Forestry

Creative Industries

Education

Financial Institutions

Funds

Health

Infrastructure

Manufacturing

Public-Private Partnerships

Tourism, Retail & Property

Trade & Supply Chain Finance

Venture Capital

Working Upstream
Where We Work
Where We Work

As the largest global development institution focused on the private sector, IFC operates in more than 100 countries around the globe. We apply lessons learned in one region to solve problems in another.
Overview
By Region

Africa

East Asia and Pacific

Europe

Latin America and the Caribbean

Middle East and Central Asia

South Asia
Our Impact
Our Impact

Our impact improves lives. IFC brings a clear set of advantages to the world’s most challenging markets. Including a history of innovation, a global mandate, and a determination to achieve measurable development impact.
Our Impact Overview
PRINCIPLES & MEASUREMENT

Impact Investing at IFC

Measuring and Monitoring (AIMM)

Evaluation

Sustainable Development Goals (SDGs)

Owned by 186 member countries and consistently rated AAA/Aaa. IFC aims to achieve our mission of promoting development by providing debt and equity to the private sector, through a range of benchmark and bespoke products.

For Partners

For Investors

Get in Touch

Summary of Investment Information

Project Number

49408

Company Name

IS FINANSAL KIRALAMA ANONIM SIRKETI

Date SPI Disclosed

Jul 14, 2025

Country

Turkiye

Region

Central Asia and Turkiye

Projected Board Date

Nov 29, 2024

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Jul 14, 2025

Department

Regional Industry FIG MCT

Industry

Financial Markets

Previous Events

Approved : Dec 20, 2024
Signed : Jun 23, 2025
Invested : Jul 10, 2025

Sector

Leasing Services

Project Description

The proposed investment is comprised of a senior unsecured loan of up to US$100 million , consisting of US$50 million for IFC's own account and US$50 million to be mobilized through the MCPP III Program, to Is Finansal Kiralama A.S. (“IsLeasing” or the “Company”), a subsidiary of Turkiye Is Bankasi A.S. (IsBank) , which is the largest private bank in Turkiye and one of IFC’s strategic clients.

The transaction has a maturity period of 5 years with a 1-year grace period on principal repayment, and features an amortizing repayment structure.

The proceeds of the investment will be used to expand the Company's climate-smart lending, with a 15% carve-out for women-inclusive enterprises and another 15% for blue lease financing.

The proposed investment aims to support the Company's strategic direction to increase its footprint in green financing, including women.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	100.0
Equity

IFC's loan to the financial institution described in this SII is targeted for on-lending to the following sector(s):

Product Type	Use of Proceeds
Syndications	Labeled: Green;Blue;Social-Loans/Bonds
Straight Senior Loan	Labeled: Green;Blue;Social-Loans/Bonds

IFC's Definitions of Targeted Sectors can be found here.

Development Impact

The Project is expected to have the following Development Impact: (i) Increased access to climate finance: Türkiye has made ambitious climate change commitments, pledging to achieve net zero emissions by 2053, IFC anticipates that the Project will contribute to bridging this green and blue financing gap in the Turkish market for SMEs and select commercial borrowers. The green finance component of the Project is also expected to contribute to GHG emission reduction targets. (ii) Sustainability: IFC anticipates that the Project will promote greater sustainability in the climate finance market in the country via the demonstration and replication channels. IFC anticipates that the combined investment and technical assistance from this project will deepen the adoption of green finance in Turkiye.

IFC's expected additionality in this Project is both financial and non-financial. Financial additionality will be in the form of a longer-term 5-year tenor funding which will provide IsLeasing with improved maturity matched financing to support the growth of its green assets. The Non-Financial Additionality would be provided in the area of Knowledge, Expertise and Capacity Building. IFC is well positioned to transfer global knowledge and provide comprehensive support to IsLeasing in developing its capacity to continue to provide climate smart financing to its clients.

Indicator	Metrics	Comments	Calendar Year 2022	Calendar Year 2023	Calendar Year 2024
Value of Outstanding Loans, Climate	USDMill		Pre-dates IFC investment	Pre-dates IFC investment	Pre-dates IFC investment

E&S Category Rationale / Risks and Mitigation

The project is a senior unsecured loan of up to US$100 million to Is Finansal Kiralama A.S. (“IsLeasing” or the “Company”) in Turkiye to expand the company's climate smart leasing, with
a carve out for Women-inclusive enterprises and blue finance. The financing is to enable IsLeasing’s clients to lease resource efficient (primarily energy and water related) equipment. This project is also to finance solar photovoltaic (PV) panel installations for individual corporate customers. Typical E&S risks associated with supported activities include labor and working conditions, supply chain risks and waste management. The project will not support any activities on the IFC Exclusion List, coal-related activities, hydro power plants located on transboundary rivers in Turkiye, mining activities, and/or higher E&S-risk business activities involving; a) involuntary resettlement, b) risk of adverse impacts on Indigenous Peoples, c) significant risks to or impacts on the environment, community health and safety, biodiversity, cultural heritage, or d) significant occupational health and safety risks.

The project is categorized as Category FI-2 in accordance with IFC’s Environmental and Social Sustainability Policy. For this project, no activities in the IFC Exclusion List will be supported and the client will adhere to national E&S laws and regulations and will screen out higher E&S risk activities. IsLeasing will be required to comply with IFC’s Performance Standards, including life and fire safety and labor and working conditions in line with Performance Standard 2 for its own operations and will need to provide regular E&S performance reporting to IFC.

The Company has appointed an E&S officer and has an existing Environmental and Social Management System (ESMS) in place. IsLeasing will be required to: (i) update and implement
the existing “ESMS” so it allows for screening out higher E&S risk transactions; (ii) enhance supply chain screening for selected products, as relevant, and (ii) improve internal E&S risk
management capacity for ESMS implementation.

S.no	Title	Anticipated Completion Date	Status
1	Establish ESMS	12/31/2024	Completed
2	Prepare an E&S Management System (ESMS) Training Plan	12/31/2024	Completed
3	Conduct Staff Training on the ESMS implementation	03/01/2025	Completed

Contacts

For Inquiries About the Project, Contact

Is Finansal Kiralama A.S.
Kagan Ozturk
Manager, Treasury and Financial Institutions Department
+90 212 350 74 50
kaganozturk@isleasing.com.tr
Is Kuleleri Kule1 Kat:6 4.Levent / Istanbul 34330
www. isleasing.com.tr

For Inquiries and Comments About IFC, Contact

General IFC Inquiries
IFC Communications
2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384

IFC supports its clients in addressing environmental and social issues arising from their business activities by requiring its real sector clients to set up and administer appropriate grievance mechanisms and/or procedures to address complaints from Affected Communities in relation to environmental and social issues arising from IFC's clients' business activities. Since 2012, IFC's Financial Intermediary clients applying the Performance Standards are required to develop External Communications Mechanisms to receive and review inquiries or complaints from any interested party regarding the E&S risks and impacts of their operations.

For IFC projects that are active or under consideration, individual(s), or their authorized representative(s), who allege they have been or will be adversely affected by E&S risks or impacts arising from IFC's clients' business activities, may submit a complaint to IFC directly for consideration. When receiving an E&S complaint, IFC engages with complainants and works with its clients to find solutions to E&S concerns as quickly and efficiently as possible.

Complaints can be submitted to IFC online at www.ifc.org/escomplaints or by email to EScomplaints@ifc.org.

IFC complaint response is separate from and complementary to IFC’s clients’ project level grievance mechanisms and IFC’s Independent Accountability Mechanism (CAO). Lodging a complaint directly with IFC does not, at any time, restrict access to CAO.

Affected communities have unrestricted access to the Compliance Advisor Ombudsman (CAO), the independent accountability mechanism for IFC and MIGA. CAO facilitates the resolution of complaints related to IFC and MIGA projects and sub-projects, undertakes reviews of IFC’s and MIGA’s environmental and social compliance, fosters public accountability for their commitments, and enhances the environmental and social performance of IFC and MIGA.

Independent of IFC and MIGA management and reporting directly to the IFC and MIGA Boards of Executive Directors, CAO helps resolve issues raised about the environmental and social impacts of projects through a neutral, collaborative, problem-solving approach via its Dispute Resolution function. It also reviews IFC’s and MIGA’s compliance with environmental and social policies, assesses related harm, and recommends remedial actions through its Compliance function. Additionally, CAO provides advice to IFC, MIGA, and their Boards to enhance environmental and social sustainability performance and minimize the risk of harm.

Complaints may relate to environmental and social harm regarding any aspect of the planning, implementation, or impact of a project or sub-project, and can be made by any individual, group, community, entity, or other party affected or likely to be affected by the environmental or social impacts of an IFC- or MIGA-financed business activity.

Complaints can be submitted by any of the following methods:

Online form: available at https://www.cao-ombudsman.org/
Mail/Hand Delivery to: 2121 Pennsylvania Avenue, NW, Washington, DC 20433, USA
Voice mail: +1 202 458 1973
Email: cao@worldbankgroup.org
SMS, WhatsApp, Telegram, and Signal: +1 202 650 2627

CAO receives and addresses complaints in accordance with the CAO Policy, which can be accessed at: https://www.cao-ombudsman.org/policies-guidelines.

This Summary of Investment Information (SII) is prepared by IFC to disclose a factual summary of the main elements of the potential investment. It also includes findings and recommendations related to environmental and social considerations regarding this potential investment. The purpose of the SII is to enhance the transparency of IFC’s activities. For any project documentation or data included or attached herein, whether prepared by the project sponsor or otherwise, authorization has been given for public release by the project sponsor. IFC considers that this SII is of adequate quality for release to the public, but has not necessarily independently verified all of the project information therein. It is distributed in advance of IFC Board of Directors’ consideration and may be periodically updated thereafter. Board dates are estimates only and this document should not be construed as presuming the outcome of the Board Directors’ decision. The following SII is disclosed in accordance with IFC's Access to Information Policy (AIP) that went into effect on January 1, 2012.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

Projects

Summary of Investment Information

Project Description

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation

Similar Projects

Contacts

Projects

Summary of Investment Information

Project Description

Sponsor / Cost / Location

Project Sponsor and Major Shareholders of Project Company

Total Project Cost and Amount and Nature of IFC's Investment

IFC's Investment as Approved by the Board

FIG Use of Proceeds/Beneficiaries

Location of Project and Description of Site

Development Impact

Anticipated Impact Measurement & Monitoring (AIMM) Assessment

Governance Risk Assessment

IFC's Role and Additionality

Development Results

E&S Category Rationale / Risks and Mitigation

Environmental & Social Categorization Rationale / Key Risks & Potential Impacts

Environmental & Social Management System (ESMS)

Mitigation Measures / Environmental & Social Action Plan (ESAP)

Press-Release

Related Environmental Document

Similar Projects

Contacts

Information on E&S Complaints and Grievance Mechanisms

Disclaimer