TSKB is owned 50% by Isbank (Turkey) and 8.4% by Vakifbank (Turkey). Free float is 41.6%.

Total project cost is $75 million, to be used entirely for renewable energy and energy efficiency lending in Turkey.

75.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	75.0
Equity

* These investment figures are indicative

Projects to be financed are located in Turkey. TSKB’s head office is in Istanbul.

The project is expected to generate a range of environmental and economic benefits related to the development of the sustainable energy finance and stream of SE project investments. Specifically, the Program would: (i) develop SE investment projects across all sectors; (ii) improve the competitiveness of the Turkish economy by increasing the SE of end-user's operations; and (iv) improve the local as well as the global environment through reduced emissions of greenhouse gases and other conventional pollutants and reduce the country's dependence on imports of fossil fuels and natural gas.

- Provide long term funding at commercial rates in order to diversify funding needs of a bank leading in sustainable energy business. - Global expertise of IFC in climate change investments which would further add upon TSKB's experience in this sector.

The Project has been classified as a Category FI project according to IFC’s Environmental and Social Review Procedure. IFC''s existing investment in TSKB consists of a subordinated loan to strengthen bank’s capital and augment the availability of long-term funding for on-lending to borrowers in Turkey. The Bank has implemented an Environmental & Social Management System (ESMS) to screen the loans against the IFC Exclusion List and applicable environmental and social national laws and regulations.

For this particular project, IFC''s applicable requirements will be to ensure that loans to energy efficiency and renewable energy projects are screened against the IFC Exclusion List, applicable environmental and social national laws and regulations, and the IFC Performance Standards.

IFC''s appraisal will focus on TSKB''s ongoing implementation of the ESMS in particular environmental and social due diligence. IFC will also appraise TSKB''s labor policies against IFC''s Performance Standard 2 on Labor and Working Conditions.