Loan dedicated to the financing of small and medium-scale projects to be carried out by SMEs in Turkey.
Objectives
Improving access to term finance at favourable conditions, the operation will support Turkey's strategy for enhancing economic growth and employment through the financing of small and medium scale productive investments in eligible sectors. Projects will be carried out by SMEs in line with the conditions for the implementation of the EIB Loan for SMEs in Candidate and Potential Candidate Countries. Up to 50% of the credit will be allocated to SMEs in the agribusiness and tourism sectors, mainly located in the less developed regions of Turkey in West Anatolia as well as the Mediterranean and South East regions.
Comments
Sector(s)
Credit lines
Proposed EIB finance (Approximate amount)
EUR 100 million
Total cost (Approximate amount)
Not applicable.
Environmental aspects
The financial intermediary shall ensure that the final beneficiaries undertake to implement and operate the relevant investments in conformity with national environment law and the applicable principles of EU law.
Procurement
The intermediary will be required to ensure that any procurement procedures carried out by the final beneficiaries for the sub-projects that the Bank finances are in accordance with the EIB Guide to Procurement and national procurement legislation.
Status
Approved
-
14/03/2013.
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. Therefore data provided on this page is indicative and cannot be considered to represent official EIB Policy (see also the Explanatory notes).
The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities. Enquiries and comments regarding the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, EIB can also be contacted through its external offices.
Queries regarding details of a specific project, in particular when EIB loan is under appraisal, should be preferably addressed directly to project promoters.
Any complaint regarding alleged maladministration can be lodged to EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.
Zero-tolerance against fraud and corruption
The EIB has a zero-tolerance policy on fraud or corruption. To report allegations of fraud or corruption in EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential, and are handled in line with EIB investigation procedures and the Anti-Fraud Policy.
The EIB is committed to achieving the highest possible level of transparency. The EIB Transparency Policy sets out how EIB discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations.
