Demir Finansal Kiralama A.S. (Multicompany w/ Projects 8554,8586, 8555)

completed

Summary Of Project Information (SPI)Project NameTurkey-SMSE Leasing Finance FacilityRegionEuropeSectorProject No008552Projected Board DateDecember 18, 1997Company Name(1) Demir Leasing (Project No. 8552) (2) Finans Leasing (8554)(3) Garanti Leasing (8586)(4) Yapi Kredi Leasing (8555)Technical Partner and/or Major Shareholders (1) Demir Bank; Cingilli Holding (2) Fiba Factoring; Fiba Holding (3) Garanti Bank; Dogus Group (4) Yapi Kredi Bank; Cukurova GroupProject Cost Including proposed IFC investment A US$20 million IFC credit line to be channeled through four Turkish leasing companies; the proceeds would fund medium-term leasing of productive equipment by small and medium-sized Turkish enterprises.Location of project and Description of site Istanbul, TurkeyDescription of Company and Purpose of Project The proposed project would onlend IFC’s funds through 4 leasing companies. Each of these companies has 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 small and medium-sized enterprises and its leasing industry, through 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      November 26, 1997For Additional Information contact: Corporate Relations Unit -telephone: (202) 473-7711facsimile: (202) 974-4384