PROJECT

Projects

Summary of Proposed Investment

Project Number

29333

Company Name

QNB FINANSAL KIRALAMA ANONIM SIRKETI

Date SPI Disclosed

Mar 16, 2010

Country

Turkiye

Industry

Financial Markets

Projected Board Date

Apr 16, 2010

Status

Completed

Sector

Leasing Services

Department

Global Industry, Financial Markets

Environmental Category

FI

Previous Events

Approved : May 24, 2010
Signed : Jun 21, 2010
Invested : Jun 25, 2010

Project Description

There remains a large gap in Turkey between the strong economic and environmental potential of Sustainable Energy (“SE”) projects versus their limited commercial realization. A major cause of this gap is the perceived risk of SE investments and the lack of effective project delivery capacity and financing mechanisms. Investment is necessary but by itself not sufficient to develop, implement and finance SE projects. Other services are needed to market SE projects programmatically to aggregated sets of energy users, prepare projects for investment working through the full project cycle, and build capacities of market actors including SE equipment and service companies, FIs, energy suppliers/utilities and end-user groups. This Project meets these strategic priorities of expanding SMEs’ access to finance as well as promoting SE among SMEs by working with Finans Leasing that has reach into SMEs and is keenly interested in SE. IFC will collaborate with other IFIs on an advisory services package that would provide assistance to expand the SE market in Turkey and particularly to Finans Leasing in identifying, financing and monitoring SE projects.

Sponsor / Cost / Location

Development Impact