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IFC Investments in Turkey (selected)


Year CommittedProject
Project Cost*
IFC Financing*
Project Description
2008Enerjisa
2,353.0
237.7
For developing generation, distribution and supply as well as wholesale/trading of electricity in Turkey on an exclusive basis
2008Seker Bank
51.8
Loan to Seker Bank for the development of microfinance as a new line of business for the Bank
2008YKLEE
50.0
Loan to Yapi kredi Lease to finance its leases in energy efficiency products
2008Atateks
74.1
25.0
Loan to support Atatek in the modernization of its yarn and knitted fabrics facilities in Turkey, the establishment of seamless wear operations in Egypt, and debt re-profiling
2008Posuda
80.3
40.0
Loan to support the expansion of the Posuda glassware plant in Nizhny Novgorod oblast, Russia, and the construction of a new furnace
2007Sarten
41.7
20.0
To fund part of Sarten's corporate investment program which will include the purchase of machinery and equipment, the refinancing of the Company's short-term loans and, working capital investments
2007Avea Long-term
1.949
120.0
to support the expansion and upgrade of Avea's GSM cellular telephone network in Turkey
2006Sanko Cement
330.5
75.0
To support Sanko in the acquisition of a cement plant through privatization, investment in a greenfield cement plant and modernization program of another existing cement plant
2006Intercity II
44.7
Loan to Ekim Turizm Ticaret ve Sanayi A.S., for the structuring and implementation of a 3-year asset-backed securitization program consisting of a warehousing facility and a credit enhancement facility
2005Arcelik-Reg. Exp
282.0
103.4
Building of a greenfield washing machine plant in Russia.
2005Assan IV
125.0
30.0
Restructuring of balance sheet and modernization of operations
2005Intercity
53.6
20.0
Expansion of business and improvement of management and technical systems
2005TEB IV
50.0
50.0
Consolidation of Tier II capital
2005YUCE
9.8
4.5
High school and vocational institute to upgrade facilities, seek international accreditation, and develop educational software
2004Acibadem
40.9
20.0
Expansion of hospital
2004Baku-Tiblisi-Ceyhan Pipeline
3,600.0
76.0
Baku-Tiblisi-Ceyhan Pipeline to transport up to one million barrels of oil a day primarily from the Azeri Chirag Deepwater Gunashli fields
2004Borusan Holding
40.0
40.0
Corporate restructuring of a major Turkish company involved in steel and pipe production
2004Kusadasi Port
29.3
10.0
Expansion of the port, construction of a new terminal; extension of the existing berths and purchase of equipment
2004OPET
150.0
25.0
Strengthening of a retail distributor of petroleum products competitive position
2004PALEN
13.6
2.0
Increase natural gas distribution in the city of Erzurum
2004Palgaz
47.8
10.0
Increase natural gas distribution in the city of Gebze
2004TSKB Sub Loan
50.0
50.0
Loan will strengthen its Tier II capital, expand its balance sheet, and provide medium-term funding for capital investment by private sector companies
2003MESA Group
45.0
11.0
Long-term financing to an Ankara-based industrial group, to establish a hospital
2003/2001/1996
/1995/2005
Arcelik
1,050.0
201.0
Modernization and international expansion of the production of home appliances
2003/01/1996/
1992
Sise - Cam
555.8
137.9
Expansion of production facilities of a glass manufacturer
2002Atilim University
15.4
6.5
Expansion of private university in Ankara
2002Beko
95.0
24.9
Modernization and expansion of a manufacturer of consumer electronics
2002Eczacibasi Tiles
25.0
9.9
Modernization of a leading tile manufacturer
2002/1997Soktas
37.0
16.9
Expansion and modernization of woven shirt production.
2002/1998Modern Karton
99.3
30.0
Expansion and modernization of cardboard production
2002/1998Pasabahce
71.5
23.6
Establishment of a joint venture catering glass company.
2002/1993/1990Conrad
116.8
33.1
Expansion and modernization of a hotel in Istanbul
2001/1997/1994Assan
167.5
55.2
Expansion of aluminum and foil production lines
2001/1998Ipek Paper.
102.3
45.0
Expansion of tissue paper production capacity
2000Banvit
78.4
25.0
Modernization and expansion program of integrated poultry business
2000Isiklar Ambalaj
42.0
10.3
Completion of Celhart project in Bulgaria and restructuring of debt of company

IFC INVESTMENTS IN TURKEY'S FINANCIAL SECTOR (SELECTED)

Year CommittedProjectProject Cost*IFC Funding*Description
2004TSKB
50.0
50.0
Subordinated loan
2004/1996Koc Finansal Kiralama
70.0
45.0
Leasing
2004/1997Oyak Bank
90.0
65.0
Bank loan to on-lend
2004/1999/1998/1995Garanti Leasing
295.1
29.3
Asset securitization
2002/1999/1995Turk Ekon Bank
195.0
70.0
Strengthening of capital base
2002AKBANK
235.0
55.0
A bridge loan facility and bank loan for onlending
2002Milli Reasurans
60.0
50.0
Establish strong local reinsurance
2000/1992Finans Bank/Leasing
88.3
20.0
Export finance, leasing
2000Earthquake Relief Facility
50.0
50.0
Redevelopment
1999TEB Leasing
5.0
5.0
Leasing to SMEs
1998Alternatif Bank
40.0
15.0
Corporate loans, leasing
1998/1996Demir Bank/Leasing
118.6
15.0
Leasing
1998/1996Yapi Kredi Leasing
125.0
13.0
Leasing
1998Ottoman Bank
104.0
24.0
Securitized financing
1997/1995Isvicre Hayat
5.8
0.5
Insurance and pensions
1997/1992Korfezbank
71.7
23.0
Bank loan for on-lending
1996Credit Rating Agency
0.5
0.1
Foundation
1996Tekfen Bank
7.0
5.0
Leasing
1996Toprak Leasing
8.0
8.0
Leasing
1995Bank Ekspres
10.0
10.0
Recapitalization
1992Heller Factoring
3.0
0.5
Factoring
1992Interbank
50.0
5.0
Note issue
1992Koc Group
100.0
15.0
An internationally syndicated corporate loan
1996/1995/1993Global Securities
42.3
2.8
Securities brokerage
1992/1990/1987 IS GENEL Finansal Kiralama
32.3
6.4
Leasing

* Project cost and IFC financing refer to amounts approved by the IFC's Board.