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TSKB Earthquake relief

Türkiye | Financial Institutions

Identification Code:: OP/99/0042
Total Operation Cost:: — USD
Maturity:: 72 months
Operation Status:: BSTDB Approved Amount – Approval Date

10.000.000 USD – 03 Mar 2000
: BSTDB Signed Amount – Signed Date

-6.515.000 USD – 21 Oct 2002

10.000.000 USD – 04 Apr 2000
: Status:
Completed
Description and Purpose of the Operation:: Through the provision of a credit line to Sinai Yatirim Banakasi (SYB) to on-lend to local SME, affected by the recent earthquakes, BSTDB is determined to contribute to the reconstruction of affected areas and redevelopment of private businesses.
Countries of Operation:: Türkiye (100,00%)
Financial Product:: SME's
Sector:: Financial Institutions
Domain:: Private
Borrower/Client:: TurkEximbank SYB is established in 1963 by a consortium of 5 Turkish commercial banks, which are among the largest privately owned banks in Turkey.
Co-Financers/Participants:: —
Guarantors/Sponsors:: —
Developmental and Regional Cooperation Impact:: BSTDB acknowledges the pain and suffering of the Turkish people caused by the devastating earthquakes of August and November 1999. By extending a credit line through a financial intermediary, BSTDB targets to distribute most efficiently the funds to end recipients, and to achieve optimal impact in the context of the complex funds flow to and in Turkey in the aftermath of the earthquake. In selecting the financial intermediary, the following criteria were taken into consideration: a) private sector speed and efficiency; b) access to a group of SME not sufficiently benefiting from other sources of earthquake related funds (e.g. Government subsidized funds)
Environmental Classification and Impact:: The project is in compliance with the statutory environmental legal requirements in the Republic of Turkey
Operation Leader:: Energy & Infrastructure
E-mail:: ei@bstdb.org