Release date: 9 October 2013
Promoter – Financial Intermediary
ING Bank Turkey A.S. (“INGT”)Location
Description
Loan to finance small and medium-scale projects to be carried out by SMEs and Mid-Caps in Turkey.
Objectives
Dedicated loan for the financing of small and medium-scale projects carried out by corporates in Turkey in the fields of manufacturing, industry and services. The facility would comprise three envelopes targeting INGT niche markets: ”Regional Development” (SMEs and Mid-Caps located in the regions of East, South East, Central Anatolia, Black Sea, Mediterranean and Agean regions) and “Energy Efficiency” (small to medium scale energy efficiency projects of companies across Turkey) as well as loans to finance small and medium-scale projects to be carried out by SMEs and Mid-Caps in Turkey
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 200 million
Total cost (Approximate amount)
Not applicable.
Environmental aspects
In the Candidate and Potential Candidate Countries, the EIB pursues EU standards and requires that EU principles and standards be applied in accordance with Bank policies, unless any transition arrangements have been agreed during accession negotiations. Consequently:
The intermediary shall 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 shall 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.
Status
Signed - 18/03/2014