Alternatif Bank, A.S.

completed

Summary Of Project Information (SPI)Project NameTurkey-Alternatifbank A.S.RegionEuropeSectorProject No008628Projected Board DateDecember 18, 1997Company NameAlternatifbank A.S.Technical Partner and/or Major Shareholders Anadolu GroupProject Cost Including proposed IFC investment The project is to provide a US$40 million syndicated loan to Alternatifbank, of which US$15 million would be for IFC’s own account and US$25 million would be for the account of participants in an IFC B loan. Location of project and Description of site Istanbul, TurkeyDescription of Company and Purpose of Project Alternatifbank A.S. is a relatively small and well-managed bank, with a niche in the medium sized enterprise sector. It has a strong shareholder, experienced management, a sound portfolio and good financial performance. The proposed loan would be Alternatifbank’s first internationally syndicated term loan. The proceeds of the loan would primarily be used to provide term finance to the bank’s corporate clients while a small portion would be used to provide leasing finance to small and medium enterprises (SMEs) through the Bank’s leasing subsidiary. The project would continue IFC’s efforts to support both the Turkish banking sector and SMEs. Environmental Category and Issues This is a category FI project according to IFC’s environmental review procedure. For relevant operations, the Bank will be required to implement an environmental risk management system.Date SPI sent to PIC      November 25, 1997For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365