YKL Sustainable

completed

The project involves a six year senior loan of up to US$96 from its own accounts and up to US$32 million from IFC acting in its capacity as implementing entity for the Managed Co-Lending Portfolio Program. The project is intended to be used by YKL to finance eligible sustainable energy finance (“SEF”) projects.YKL has been a pioneer in the SEF space in Turkey, being the first to borrow (US$50 million) from IFC to support SEF in June 2008. YKL borrowed a further US$25 million from IFC, including US$5 million from the Clean Technology Fund (“CTF”) in June 2010 to promote SEF. Both of these facilities are amortizing; therefore, the proposed project plans to extend another facility to support SEF, a strategic segment YKL has chosen to further grow.Established in 1987, YKL is the leading leasing company in Turkey. As of FYE13 YKL had total assets of US$2.2 billion on its balance sheet and registered a net income of US$73 million. YKL has 12 branches in Turkey. In addition to its own branches, YKL utilizes Yapi Kredi Bank (“YKB”) for its outreach in Turkey.