51120 - Teb Arval SL

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Summary of Investment Information

Project Number

51120

Company Name

TEB ARVAL ARAC FILO KIRALAMA A.S

Date SPI Disclosed

Mar 12, 2026

Country

Turkiye

Region

Central Asia and Turkiye

Projected Board Date

Apr 20, 2026

Environmental Category

FI-2 - Limited

Status

Pending Approval

Last Updated Date

Mar 12, 2026

Department

Regional Industry FIG MCT

Industry

Financial Markets

Sector

Leasing Services

Project Description

The proposed investment is a senior loan package of up to US$50 million equivalent in Turkish Lira to TEB Arval Arac Filo Kiralama A.S. (TEB Arval or the Company). The financing is to be used exclusively for financing the Company’s acquisition of sustainable transport assets, including both EVs and Hybrid Vehicles and accessory charging stations.

Sponsor / Cost / Location

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
Straight Senior Loan	Others (only if UoP is not available)

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

Development Impact

Project Outcomes. Stakeholder effects: The Project is expected to support increased access to climate finance for SMEs and large corporates in Türkiye. By supporting the expansion of TEB Arval's green vehicle (GV) fleet, consisting of electric (EVs) and hybrid vehicles (HEVs), the Project is expected to enable greater access to GV leasing, which is not widely available in the Turkish leasing market, for SMES and corporate clients. Market Outcomes. Sustainability: The Project is a part of IFC's programmatic approach with Turkish NBFIs which aims to deepen the adoption of climate finance standards, products, and practices by leasing companies and other NBFIs in the Turkish market, including through the enhancement of these practices reflected in various advanced sustainability products, adoption of sustainability frameworks, and public reporting on sustainable finance, and other best practices.

IFC's expected additionality in the Project is both financial and non-financial. Financial additionality will be delivered in the form of financing structure through the provision of longerterm financing, which will help minimize any potential maturity mismatches and diversify sources of funding, and resource mobilization from parallel lenders. Non-financial additionality is provided in the form of standard setting based on IFC's support in improving TEB Arval's environmental and social management system (“ESMS") through the implementation of enhanced ESMS procedures, including performing supply chain assessments for EVs, and developing E&S risk management training plan for the staff.

Indicator	Metrics	Comments
Number of Outstanding Loans, Climate	number
Share of Climate Loan Portfolio	R:%Pct
Value of Outstanding Loans, Climate	$

E&S Category Rationale / Risks and Mitigation

The E&S risks and potential impacts associated with the supported leasing activities are assessed as limited and readily manageable through the application of appropriate mitigation measures. Given that the overall portfolio risk is considered medium, the Project is classified as FI-2 under IFC’s Environmental and Social Sustainability Policy. Key E&S risks stem from (i) the nature of the lessees’ operations; (ii) the adequacy of their E&S management capacity and systems; and (iii) TEB Arval’s ability to identify, assess, and monitor E&S risks linked to the green vehicles leased under this transaction. Effective portfolio-level E&S due diligence and monitoring will be critical for maintaining compliance with IFC requirements and for reducing potential E&S impacts.

The Project will not support coal-related activities or higher risk business activities, including: (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, and cultural heritage; (d) risk of retrenchment; or (e) significant occupational health and safety risks. For this Project, the Company will be required to conduct systematic screening of all leasing clients against the IFC Exclusion List and applicable host country E&S laws and regulations. TEB Arval will also comply with recognized life and fire safety standards and maintain labor and working conditions in full alignment with IFC Performance Standard 2. In addition, as part of the Project, TEB Arval will strengthen its employee grievance mechanism so that it meets the requirements of Performance Standard 2, providing accessibility to all staff, transparency in processes, and timely, effective resolution of workplace concerns.

TEB Arval has an Environmental and Social (E&S) policy, aligned with the Arval Group’s overarching framework, aimed at minimizing the environmental footprint of its activities. Central to this policy will be the development and implementation of a comprehensive Environmental and Social Management System (ESMS), which will provide structured processes, roles, and monitoring mechanisms to identify, assess, and mitigate E&S risks across leasing operations, fleet management, and associated supply chains. The ESMS will include procedures for evaluating suppliers of green vehicle fleets, ensuring adherence to environmental standards, promoting responsible sourcing, and continually improving performance through regular reviews and reporting. While the primary focus will be on E&S risk management, TEB Arval will also increase the use of electric vehicles (EVs) within its own operational fleet, supporting the transition to lower-emission mobility and demonstrating leadership in sustainable transport adoption.

S.no	Title	Anticipated Completion Date
1	ESMS developed	04/30/2026
2	E&S training plan for relevant staff developed	04/30/2026
3	Enhanced HR policies and procedures	05/15/2026
4	Rollout of E&S training for relevant staff completed	11/13/2026

Contacts

For Inquiries About the Project, Contact

TEB Arval Araç Filo Kiralama A.S.
Fatma Reyhan Kaboglu
CFO
0533 714 63 70
reyhan.kaboglu@tebarval.com.tr

http://www.tebarval.com.tr/

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