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Ekspo Factoring TF Facility

Türkiye | Financial Institutions

Identification Code:: OP/12/0027
Total Operation Cost:: — USD
Maturity:: 12 months
Operation Status:: BSTDB Approved Amount – Approval Date

5.000.000 USD – 01 Dec 2012

5.000.000 USD – 11 Apr 2014
: BSTDB Signed Amount – Signed Date

5.000.000 USD – 05 May 2014

5.000.000 USD – 21 Feb 2013
: Status:
Active
Description and Purpose of the Operation:: —
Countries of Operation:: Türkiye (100,00%)
Financial Product:: Trade Finance
Sector:: Financial Institutions
Domain:: Private
Borrower/Client:: Short Term Trade Finance Facility to Ekspo Faktoring, Turkey
Co-Financers/Participants:: —
Guarantors/Sponsors:: —
Developmental and Regional Cooperation Impact:: The Project is expected to have favorable economic benefits for the Turkish economy, the most relevant being additional tax revenue gains from increased economic activity from the incremental amount inflows. In addition, the amount provided will help further enhance benefits such as increases in employment, increase in export capacity and competitiveness, and multiplier effects for other parts of the economy. The regional cooperation element is similarly expected to be high. The Company informed the BSTDB that their potential clients are importers of raw materials from Bulgaria, Greece, Russia and Ukraine to be processed and re-exported from Turkey. Other BSTDB countries are important trade partners for Turkey so a portion of exports is likely to go there, while the import financing provided under the facility will be restricted to importation of goods from other BSTDB member countries. Such transactions will have positive, albeit modest, impact on regional cooperation, helping to enhance intra-regional trade. The most significant impact though from BSTDB's funding, would be the mobilization of additional external resources to the benefit of the Turkish economy in general and specifically to the segmented factoring sector, which continues to have concentrations bank owned factoring companies that processed around 70% all factoring turnover in 2011.
Environmental Classification and Impact:: In order to reduce/avoid any Environmental, Health & Safety (EH&S) impacts that potentially may arise from trade finance activities, the Borrower shall follow the BSTDB's Negative List of Products and local EH&S legislation, as well as make sure that the Beneficiaries fully comply with these requirements. The Borrower shall immediately notify the Bank of occurrence of any incident or accident relating to any underlying export or import transaction of which the Borrower is, or ought to be aware, and which is likely to adversely affect the state of environment, and/or human health and safety.
Operation Leader:: Financial Institutions I
E-mail:: fi1@bstdb.org