Istanbul, Turkey, July 9, 2020 —IFC, a member of the World Bank Group, is providing a $50-million loan to Yapý Kredi Finansal Kiralama Anonim Ortaklýðý ( Yapý Kredi Leasing) to increase access to long-term finance for small and medium enterprises (SMEs).
The financing will help SMEs negatively impacted by the COVID-19 pandemic continue their operations and sustain employment levels. Yapý Kredi Leasing will use the loan to continue financing its clients, particularly SMEs with operations in health care, medical equipment, food, packaging, e-commerce, and logistics. Half of the financing will be channeled to climate-related initiatives that will help these SMEs to keep their energy bills low through energy-efficient measures in their businesses.
Yapý Kredi Leasing ’s General Manager Fatih Torun said, “Our plan is to focus on minimizing the negative effects of the pandemic. We will channel this financing to help affected SMEs to continue their operations and sustain employment levels and also to support their energy-saving measures. We will continue to provide solutions for customer cash flows that are in line with their needs, like we have always done.”
This investment builds on IFC’s long-standing relationship with Yapý Kredi Leasing. Since 1996, IFC has provided multiple investment products to the company to support its expansion into the SME sector, with a particular focus on climate-friendly lending for energy-efficiency measures and small-scale renewable energy-related transactions.
“ Yapý Kredi Leasing’s extensive outreach and expertise will provide much-needed support to SMEs in Turkey,” said Vittorio di Bello, IFC’s Regional Head of Industry for Financial Institutions in Europe and Central Asia. “It will also enable SMEs to increase efficiencies through climate-related initiatives.”
IFC has supported private sector development in Turkey for over fifty years, with a committed exposure of over $4 billion in the country as of June 2019.
About IFC
IFC—a sister organization of the World Bank and member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2019, we invested more than $19 billion in private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org .
About Yapý Kredi Leasing
Yapý Kredi Finansal Kiralama A.O. was founded in 1987 with the aim of engaging in national and international financial leasing. Yapý Kredi Leasing operates in the 14 regions throughout Turkey to promote technological innovations through its experts, working with the goal of expanding its financial leasing market. Yapý Kredi Leasing is sector leader for 11 years without interruption. For more information, visit http://www.yapikredileasing.com.tr/english/ or download our mobile application Yapi Kredi Leasing.
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