Yapi Kredi Lease Energy Efficiency

completed

_x000C_The proposed project has the dual aim of expanding SMEs’ access to finance and promote energy efficiency among SMEs in Turkey. The proposed project is a loan of up to $50 million equivalent to Yapi Kredi Finansal Kiralama A.O. (YKL or the company), one of IFC’s longstanding partners in Turkey with extensive reach, especially in the SME market segment. The proposed project is IFC’s first significant initiative to help develop Turkey’s nascent market for Energy Efficiency (EE). The loan will finance the expansion of YKL’s leasing portfolio to SMEs with a special focus on financing EE projects. In addition, the German development agency, Kreditanstalt für Wiederaufbau (KfW), is also considering to finance up to EUR30 million for EE related subloans on similar terms and conditions to IFC’s financing. In this respect, the proposed project is part of a broader partnership between IFC and KfW to support the development of EE finance through Financial Intermediaries (FIs) in Central and Eastern Europe.