Summary of Proposed Investment
Project Number
7398
Company Name
DEMIR FINANSAL KIRALAMA A S
Date SPI Disclosed
Jun 6, 1996
Country
Turkiye
Industry
Financial Markets
Status
Completed
Sector
Leasing Services
Department
Global Industry, Financial Markets
Environmental Category
FI
Previous Events
Approved : Aug 9, 1996
Signed : Oct 16, 1996
Invested : Dec 9, 1996
Project Description
Summary Of Project Information (SPI)
| Project Name | Turkey-Lease Finance Program |
| Region | Europe |
| Sector |
Projected Board DateJuly 16, 1996
Company Name(1) BNP-Ak-Dresdner Leasing (2) Demir Leasing (3) Finans Leasing (4) Toprak Leasing (5) Yapi Kredi Leasing
Technical Partner and/or Major Shareholders
(1) BNP-Ak-Dresdner Bank (2) Demir Bank; Cingilli Holding (3) Fiba Factoring; Fiba Holding (4) Toprak Bank (5) Yapi Kredi Bank; Cukurova Group.
Project Cost Including proposed IFC investment
US$30 million, IFC line of credit.
Location of project and Description of site
Istanbul, Turkey
Description of Company and Purpose of Project
This project involves a US$30 million IFC credit program to be channeled through five Turkish leasing companies; the proceeds would fund medium-term leasing of productive equipment by Turkish enterprises, particularly those in the small and medium scale sector. The proposed project includes leasing companies across the market spectrum, from start-up to relatively mature. Each of these companies has in common strong shareholders (all are majority owned or controlled by reputable banks), strong management, good growth prospects and good financial performance. Each company also has a sound portfolio, with little or no bad debt. The project would be integral to IFC’s ongoing efforts to support Turkey’s growing leasing industry, through technical assistance, institution building, and funding.
Environmental Category and Issues
This is a category FI project according to IFC’s environmental review procedure. For relevant operations, each leasing company will be required to implement an environmental risk management system. In addition, IFC will assess each company’s capability to conduct environmental reviews.
| Date SPI sent to PIC | June 6, 1996 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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