Release date: 17 November 2009
Promoter – Financial Intermediary
Two to three private sector banks will be selected by EIB in coordination with the Turkish Treasury and the EC as intermediaries for the facility.Location
Description
The SME sector has been particulary hard hit by the financial crisis. The Recovery Loan will provide intermediary banks with a combination of EIB funds and Commission grants for the benefit of SMEs carrying out eligible small and medium scale productive investments across Turkey.
Objectives
To enhance the prospects for economic growth and employment in Turkey through the provision of long-term financing for small/medium scale projects undertaken by small and medium sized enterprises.
Comments
SMEs. Productive economic sectors according to EIB’s eligibility criteria.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 150 million (or equivalent); The facility will benefit from a EUR 30 million allocation of IPA subsidies from the European Commission.
Total cost (Approximate amount)
Not applicable.
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Signed - 26/07/2010
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).