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Supporting the ecological transition in Turkey
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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50 000 000,00
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Customer
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Yapi Kredi Finansal Kiralama A.O.
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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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PTR1094
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Environmental and social ranking
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IF-A
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has allocated a €50 million loan to Yapi Kredi Leasing to help it develop its portfolio with climate co-benefits, thereby promoting climate action in Turkey.
Client presentation
Yapi Kredi Leasing (YKL) was founded in 1987 by Yapi Kredi Bank (YKB) to develop its leasing activity. In 2006, YKL considerably increased its activity by merging with Koç Group’s subsidiary dedicated to leasing. YKL has been the market leader in leasing in Turkey for more than 10 years, with a 17% market share in terms of portfolio size.
Project description
The project involves a €50 million and 100% Climate credit line to Yapi Kredi Leasing (YKL). Through this operation, Proparco is supporting YKL’s objective of developing its portfolio with climate co-benefits, mainly by financing renewable energies. It is thus contributing to strengthening climate finance in Turkey.
This operation is thereby fully in line with Proparco’s Strategy 2023-2027, with a Climate share of 100% (Pillar n° 2).
Project impact
The expected impacts of this financing are as follows:
Employment
- More than 23,700 jobs supported over the next 5 years in the companies financed by the bank (indirect jobs)
Start-ups & SMEs
- About 250 MSMEs supported
Climate
- 100% climate co-benefits, all the funds will be used to finance mitigation projects
The project will thereby contribute to the achievement of SDGs 8 (Decent work and economic growth) and 13 (Climate action).