Release date: 22 August 2013
Promoter – Financial Intermediary
Akbank T.A.S.Location
Description
Loan dedicated to the financing of small and medium scale projects in eligible sectors, primarily manufacturing and services, 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.
Comments
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 150 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
Signed - 19/12/2014
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).