Basak Pamir Ulgen
Phone: +90 212 385 3075
Istanbul, Turkey, September 17, 2014
- IFC, a member of the World Bank Group, is lending $96 million to Yapi
Kredi Leasing, Turkey’s leading leasing company, to increase its leasing
operations in energy efficiency and renewable energy projects.
This long-term financing to Yapi Kredi Leasing will reduce greenhouse gases
as it will be used to finance renewable energy projects. IFC will directly
lend $64 million of this loan from its own resources. The remaining $32
million has been raised through the IFC-Managed Co-Lending Portfolio Program,
a syndications platform that allows institutional investors to passively
participate in IFC’s senior loan portfolio.
Ozgur Maras, General Manager of Yapi Kredi Leasing, said, “Yapi Kredi
Leasing has had a strategic partnership with IFC in sustainable energy
financing since 2008. We have worked together to increase lending for energy-efficient
machinery and equipment.
We believe cooperation with IFC will
contribute to our support of the Turkish economy. As the sector leader,
we will utilize these resources to help grow MSMEs, the backbone of the
“We are working with Yapi Kredi Leasing to ensure that investments in
sustainable energy finance continue to have access to longer-term funding,”
said Edward Strawderman, IFC Associate Director for Financial Institutions
Group for Europe, Middle East, and North Africa. “IFC’s loan will
boost lending to local companies at a time when businesses continue to
face difficulties obtaining funding to improve energy efficiency and for
renewable energy, key to sustainable development.”
According to IFC’s “Investment Potential in EMENA” report published
in November 2013, Turkey has a climate-smart business investment potential
of over $89 billion. The investment potential in energy generation accounts
for almost $42 billion, of which $22 billion is in renewables. The investment
potential in industrial and consumer energy efficiency is estimated at
over $4.5 and $30 billion respectively. IFC continues to work with partner
financial institutions in Turkey, such as Yapi Kredi Leasing, to reach
companies across the country and provide
access to long-term funding for climate-smart investments.
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. Working with private
enterprises in about 100 countries, we use our capital, expertise, and
influence to help eliminate extreme poverty and boost shared prosperity.
In FY14, we provided more than $22 billion in financing to improve lives
in developing countries and tackle the most urgent challenges of development.
For more information, visit www.ifc.org
About Yapi Kredi Leasing
Yapi Kredi Leasing, established in 1987, is Turkey’s leading player in
the sector with the most assets and capital. Yapi Kredi Leasing serves
corporate, commercial, and SME customers from various sectors through 12
branches located in different regions of Turkey and headquarters in Istanbul.
Yapi Kredi Leasing is a board member of Financial Institutions Union.
For more information on Yapi Kredi Leasing, please visit: http://www.yapikredileasing.com.tr/english/