Demir Finansal Kiralama, A.S. - multi-leasing (see also 7795, 7796 and 7797)

completed

Summary Of Project Information (SPI)Project NameTurkey-Lease Finance ProgramRegionEuropeSectorProject No007398Projected Board DateJuly 16, 1996Company Name(1) BNP-Ak-Dresdner Leasing (2) Demir Leasing (3) Finans Leasing (4) Toprak Leasing (5) Yapi Kredi LeasingTechnical Partner and/or Major Shareholders (1) BNP-Ak-Dresdner Bank (2) Demir Bank; Cingilli Holding (3) Fiba Factoring; Fiba Holding (4) Toprak Bank (5) Yapi Kredi Bank; Cukurova Group.Project Cost Including proposed IFC investment US$30 million, IFC line of credit.Location of project and Description of site Istanbul, TurkeyDescription of Company and Purpose of Project This project involves a US$30 million IFC credit program to be channeled through five Turkish leasing companies; the proceeds would fund medium-term leasing of productive equipment by Turkish enterprises, particularly those in the small and medium scale sector. The proposed project includes leasing companies across the market spectrum, from start-up to relatively mature. Each of these companies has in common strong shareholders (all are majority owned or controlled by reputable banks), strong management, good growth prospects and good financial performance. Each company also has a sound portfolio, with little or no bad debt. The project would be integral to IFC’s ongoing efforts to support Turkey’s growing leasing industry, through technical assistance, institution building, and funding.Environmental Category and Issues This is a category FI project according to IFC’s environmental review procedure. For relevant operations, each leasing company will be required to implement an environmental risk management system. In addition, IFC will assess each company’s capability to conduct environmental reviews. Date SPI sent to PIC June 6, 1996For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 676-0365