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TKB

Türkiye | Financial Institutions

Identification Code:: OP/18/0051
Total Operation Cost:: 50.000.000 EUR
Maturity:: 84 months
Operation Status:: BSTDB Approved Amount – Approval Date

50.000.000 EUR – 23 Nov 2018
: BSTDB Signed Amount – Signed Date

50.000.000 EUR – 18 Dec 2018
: Status:
Completed
Description and Purpose of the Operation:: TKB
Countries of Operation:: Türkiye (100,00%)
Financial Product:: SME's
Sector:: Financial Institutions
Domain:: Public
Borrower/Client:: SME Facility to the Development and Investment Bank of Turkey
Co-Financers/Participants:: —
Guarantors/Sponsors:: —
Developmental and Regional Cooperation Impact:: The operation will have favorable albeit modest economic benefits for the Turkish economy, the most relevant being the tax revenue gains from economic activity, increase 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 modest given the size of the loan compared to the size of Turkish economy. Other BSTDB countries are important trade partners for Turkey so to the extent SMEs benefiting from financing from the operation engage in export activities with other BSEC countries, there will be regional cooperation benefits. The operation is consistent with the sectorial and operational priorities outlined in the BSTDB’s Medium Term Strategy and Business Plan 2015-18 and the Country Strategy for Turkey 2015-2018.
Environmental Classification and Impact:: TKB has developed and implemented an appropriate environmental and social risk management system which is well-functioning and it is integrated in its overall risk management system. The portfolio as of 2017 indicates a large share in energy sector, primarily renewables and energy efficiency - 56%, manufacturing industry - 16%, tourism 14%, and FIs 12%. The high risk operations undergo the appropriate environmental and social assessment, including legal compliance review, site visits and monitoring. In 2017 the Borrower revised its Environmental Management System documents in accordance with carbon footprint calculation requirements under TS EN ISO 14064-1 Greenhouse Gas Standard and Protocol. In 2018 it plans to complete the revision of system documents according to TS EN ISO 14001:2015 Environmental Management System Standard. Generally, TKB is active in supporting initiatives related to environmental protection and climate change.
Operation Leader:: Financial Institutions I
E-mail:: fi1@bstdb.org