PROJECT

Projects

Summary of Proposed Investment

Project Number

31114

Company Name

FIBABANKA A S

Date SPI Disclosed

Mar 5, 2012

Country

Turkiye

Industry

Financial Markets

Projected Board Date

Apr 3, 2012

Status

Completed

Sector

Commercial Banking - General

Date Revised SPI Disclosed

Mar 5, 2012

Department

Global Industry, Financial Markets

Environmental Category

FI

Previous Events

Approved : Apr 16, 2012
Signed : Jun 8, 2012
Invested : Jun 12, 2012

Project Description

The project consists of a senior loan facility of up to US$30 million to Fibabanka A.Ş. (“Fibabanka” or the “Bank”). The proposed investment would be used to finance the Bank’s lending operations to women-owned SMEs (at least 50% of the facility amount) and the remaining 50% will be on-lent to other SMEs. IFC is working to mobilize funds from parallel lenders to increase the total financing package to the Bank to increase up to US$70 million.

Sponsor / Cost / Location

Development Impact