Project Name：EBRD Financial Intermediary Investment Special Fund—Small Business Account—Phase III—Subproject 1: Garanti Bank syndication Loan(Turkey)

Project status：Completed projects

Cooperating Country：West and Central Asia, Turkey

Project Description：

The project is a syndicated loan facility to Garanti Bank for on-lending to micro, small and medium-sized enterprises (MSMEs) . The proceeds of the EBRD funds will also be used to finance the investments of small companies operating outside the three main Turkish cities Ankara, Istanbul and Izmir.

Implementation Start Date：2009-11-04

Implementation End Date：2014-11-04

Project Objectives：It is anticipated that this project will provide syndicated loan facility to Garanti Bank for on-lending to micro, small and medium-sized enterprises (MSMEs),facilitating the economic development in the Repubic of Turkey.   In particular, it will suport the enterpise of the econmically depressed region in Turkey by supporting the Garanti bank's drive to broaden the geographical coverage of its lending activities and build up the availability of competitive financing products to small business. 

Executing Agency：EBRD

Implementation Arrangement：The loan facility is for Garanti Bank to on-lend to micro, small and medium-sized enterprises (MSMEs).A part of the loan will be used to continue Garanti Bank’s support to female entrepreneurs in rural areas.  The loan will increase Garanti Bank’s commitment to this niche market and will provide a variety of tailored financial products.

Signing Date：2009-11-04