The proposed joint EIB/EIF facility would be a loan dedicated to the financing of innovative SMEs in several sectors accross Turkey, enhanced by an EIF guarantee on the eligible SME portfolio providing credit risk coverage with the support of the EU Commission.
Objectives
Focusing on increasing economic efficiency and transformation as well as job creation in Turkey in line with EU objectives, the loan will favour the development of innovative SMEs and small Mid-Caps, and support capacity building, economic efficiency and competitiveness.
Comments
Sector(s)
Credit lines
Proposed EIB finance (Approximate amount)
EUR 100 million
Total cost (Approximate amount)
Not applicable.
Environmental aspects
The intermediary will be required to ensure that the final beneficiaries undertake to implement and operate the relevant investments in conformity with national and applicable EU environmental law including the relevant international environmental agreements.
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
Under appraisal
-
27/02/2013.
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.
