PROJECT

Projects

Summary of Investment Information

Project Number

50031

Company Name

ALBARAKA TURK KATILIM BANKASI ANONIM SIRKETI

Date SPI Disclosed

Dec 5, 2024

Country

Turkiye

Region

Central Asia and Turkiye

Projected Board Date

Jan 6, 2025

Environmental Category

C - No Impact

Status

Pending Disbursement

Last Updated Date

Nov 19, 2025

Department

Regional Industry FIG MCT

Industry

Financial Markets

Previous Events

Approved : Nov 11, 2004
Signed : May 17, 2024

Sector

Commercial Banking - Trade

Project Description

 The Project is an unfunded trade finance facility to AlBaraka Turk (“ABT” or “the Bank”) in an aggregate amount of approximately US$30 million under IFC’s Global Trade Finance Program (“GTFP”) in the form of a trade line pursuant to which IFC would guarantee letters of credit and other trade instruments issued by the Bank to support the Bank’s trade program. The GTFP proposed investment will offer Confirming Banks partial or full guarantees covering payment risk of the Bank in the Republic of Türkiye for their trade-related transactions.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation