Release date: 15 December 2010
Promoter – Financial Intermediary
Finansbank A.S.
www.finansbank.com
Location
Description
The loan is dedicated to the financing of small and medium scale enterprises (SMEs) in several sectors across Turkey, to be implemented by Finansbank. This will be the second operation for SMEs with Finansbank following the implementation of the previous loan.
Objectives
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.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 75 million (or equivalent)
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
Public and private procurement under this loan will have to follow EIB procurement guidelines and national procurement legislation as appropriate.
Status
Signed - 26/05/2011