Summary of Proposed Investment
Project Number
8552
Company Name
DEMIR FINANSAL KIRALAMA A S
Date SPI Disclosed
Nov 26, 1997
Country
Turkiye
Industry
Financial Markets
Status
Completed
Sector
Leasing Services
Department
Regional Industry FIG MCT
Environmental Category
FI
Previous Events
Approved : Dec 30, 1997
Signed : Apr 17, 1998
Invested : May 26, 1998
Project Description
Summary Of Project Information (SPI)
| Project Name | Turkey-SMSE Leasing Finance Facility |
| Region | Europe |
| Sector |
Projected Board DateDecember 18, 1997
Company Name(1) Demir Leasing (Project No. 8552) (2) Finans Leasing (8554)(3) Garanti Leasing (8586)(4) Yapi Kredi Leasing (8555)
Technical Partner and/or Major Shareholders
(1) Demir Bank; Cingilli Holding (2) Fiba Factoring; Fiba Holding (3) Garanti Bank; Dogus Group (4) Yapi Kredi Bank; Cukurova Group
Project Cost Including proposed IFC investment
A US$20 million IFC credit line to be channeled through four Turkish leasing companies; the proceeds would fund medium-term leasing of productive equipment by small and medium-sized Turkish enterprises.
Location of project and Description of site
Istanbul, Turkey
Description of Company and Purpose of Project
The proposed project would onlend IFC’s funds through 4 leasing companies. Each of these companies has 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 small and medium-sized enterprises and its leasing industry, through 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 | November 26, 1997 |
telephone: (202) 473-7711
facsimile: (202) 974-4384
Sponsor / Cost / Location
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