Financed ProjectsIS Leasing SMEL 2

Identification Code:

OP/15/0045

Total Operation Cost:

30.000.000

Maturity:

60 months

Operation Status:

Description and Purpose of the Operation:

IS Leasing SMEL 2

Countries of Operation:

Türkiye (100,00 %)

Financial Product:

SME's

Sector:

Financial Institutions

Domain:

Private

Borrower/Client:

2nd SME Leasing Facility to Is Leasing

Co-Financiers/Participants:

N/A

Guarantors/Sponsors:

N/A

Developmental and Regional Cooperation Impact:

The operation is expected to have favorable albeit modest economic benefits for the Turkish economy, the most relevant being the tax revenue gains from economic activity, increase in employment, increase in export capacity and competitiveness, and multiplier effects for other parts of the economy. The regional cooperation element is similarly expected to be modest. Other BSTDB countries are important trade partners for Turkey so to the extent SMEs benefiting from financing from the operation engage in export activities with other BSEC countries, there will be regional cooperation benefits. The operation is consistent with the sectoral and operational priorities outlined in the BSTDB's Medium Term Strategy and Business Plan 2015-18 and the Country Strategy for Turkey 2015-2018.

Environmental Classification and Impact (summary):

Considering the findings of the environmental assessment it is deemed necessary for the Borrower to cover under its environmental management system all its leasing operations, especially those in metal industry, construction and transportation. Given that the Borrower appears to have already the basic experience in managing the environmental risks and impacts associated with its leasing operations in the energy sector, extending the environmental management to its entire portfolio is not likely to represent to much burden on the Borrower. For the purpose of this operation the Loan Agreement shall stipulate the following environmental, health and safety (EHS) terms and conditions: i) the Borrower to remain complaint with the national EHS legal and regulatory requirements, and require its Clients to follow these requirements; ii) Extend its environmental management system to all its leasing operations and develop the appropriate policies and procedures in line with BSTDB requirements; iii) Continue to follow the Exclusion List it abides to; and iv) submit to the BSTDB annual EHS performance reports.

Operation Leader:

Financial Institutions I

E-mail:

fi1@bstdb.org