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Signature(s)

Amount
€ 150,000,000
Countries
Sector(s)
Türkiye : € 150,000,000
Credit lines : € 150,000,000
Signature date(s)
19/12/2014 : € 150,000,000
Link to source

Summary sheet

Release date
22 August 2013
Status
Reference
Signed | 19/12/2014
20130341
Project name
Promoter - financial intermediary
AKBANK LOAN FOR SMES II
Akbank T.A.S.
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 150 million
not applicable
Location
Sector(s)
Description
Objectives

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.

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.

Environmental aspects
Procurement

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.

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.

Link to source

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).

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The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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