Yapi Kredi Leasing - SME Credit Line

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Translated version of this PSD: Turkish The EBRD is considering a senior loan of up to €50 million equivalent to Yapi Kredi Leasing (“YKL”), a subsidiary of Yapi Kredi Bank (“YKB”), the fourth largest privately owned bank in Turkey, to expand its leasing activities to micro, small and medium-sized enterprises (MSMEs) in Turkey. The purpose of the project is to increase the availability of leasing finance for machinery and equipment to MSMEs located in underserved regions. EBRD financing will also assist YKL in diversifying its funding base as part of its broader strategy to move towards sustainable long-term funding sources. The transition impact will stem from expanding the availability of leasing products in priority development regions in Turkey drawing on YKL’s expertise in providing equipment finance to MSMEs to increase its presence further in the regions. The project will make a contribution towards lengthening YKL’s funding base to match the tenor of the underlying leases and accessing sustainable sources of financing going forward. Established as one of the first leasing companies in Turkey, YKL is the sector leader and largest leasing company in Turkey by assets and new leasing volumes as of the first half of 2013. YKL has specialised expertise in providing equipment leasing and vendor finance to MSMEs. Senior loan of up to €50 million equivalent to YKL to be disbursed in two tranches. Up to €50 million equivalent. The project is categorised FI. YKL will be required to comply with EBRD Performance Requirements (PRs) 2 & 9, adopt and implement the EBRD's Environmental and Social Procedures for Leasing and submit Annual Environmental and Social Reports to the Bank. None. Yapı Kredi Finansal Kiralama A.O. Zeynep Küçüköner, Treasury and Foreign Relations Manager Email: zeynep.kucukoner@ykleasing.com.tr