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Supporting Turkey’s agriculture sector
Project
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Signature date
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Location
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Turkey
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Financing tool
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Financing amount (Euro)
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25000000
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Financing details
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EUR 25m loan
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Customer
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Turkiye Is Bankasi (Isbank)
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Type of customer
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Financial institution
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Country of headquarters
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Turkey
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Project number
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PTR 1067
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Environmental and social ranking
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IF-A
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Climate co-benefits
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Project with climate co-benefits
This information is given at the time of signature, without prejudice to any developments in the operation/project.
In Turkey, a new credit line to Isbank to support the agriculture sector
Client presentation
Isbank is Turkey’s leading private bank and a longstanding partner of Proparco, with the first credit line signed nearly 10 years ago.
Project description
The new credit line will support the development of the bank's credit activity in the agriculture sector. It will focus on financing investments that enable an efficient use of resources in this sector (fuel savings with the replacement of tractors, water savings with drip irrigation equipment, etc.)
Project impact
By financing the agriculture sector in Turkey, the operation will support a dynamic sector that accounts for 6% of GDP (2017) and provides local jobs: the country has some 3 million active farms which employ 19% of the total working population. Isbank could thereby extend its range of loans to some 2,962 additional Turkish agricultural enterprises to finance their investments in growth and modernization. Furthermore, the operation targets a sector that accounts for a significant share of the country’s greenhouse gas (GHG) emissions (11.4% of GHG emissions, 2016). It could also contribute to optimizing the consumption of energy and resources in the agriculture sector.