Turkey Market Profile

July 6, 2015 - 5:05am from MicroCapital
The Sanad Fund for MSME (micro-, small and medium-sized enterprise) (Sanad), a Luxembourg-based organization that provides “medium- and long-term”[1] debt and equity to financial institutions in the Middle East and North Africa region, has recently announced the disbursement of a loan of USD 15 million to Bankmed, a Lebanese commercial bank regulated by the Central Bank of Lebanon. The aim of the loan is to support the expansion of Bankmed’s lending activities to small and medium-sized ...
July 2, 2015 - 5:03am from MicroCapital
The European Commission, the European Union’s executive body, and the European Investment Fund (EIF), an EU-affiliated provider of finance to organizations that lend to small and medium-sized enterprises (SMEs), recently partnered to introduce the European Programme for Employment and Social Innovation (EaSI). The program has a total budget of EUR 193 million (USD 213 million), which is to be used to support “microfinance and social entrepreneurship.” Of this, EaSI will provide guarantees ...
July 1, 2015 - 9:40pm from MicroCapital
FINCA Bank Georgia (FINCA Georgia), the Georgia-based subsidiary of the Foundation for International Community Assistance (FINCA International), a US-based nonprofit microfinance organization, recently announced that it has entered into an agreement with the Greece-based international financial institution Black Sea Trade and Development Bank (BSTDB), to receive a loan of USD 7 million. The loan is intended to be used for on-lending to micro- and small enterprises that operate in the ...
June 30, 2015 - 5:30pm from The Microfinance Research Blog
You might have noticed the rainbow banner across the top of WordPress.com over the weekend — our way of marking Pride month, celebrated by cities across the globe in June, as well as the US Supreme Court’s ruling legalizing same-sex marriage across all states. (The United States now joins 20 other countries, including my own, Portugal, in fully recognizing same-sex marriage nationwide.)
June 12, 2015 - 11:14pm from MicroCapital
The European Union (EU), the UK-based, multilateral European Bank for Reconstruction and Development (EBRD) and the Turkish government have partnered to introduce the Finance and Advice for Women in Business Programme in the northwest region of Turkey. EBRD plans to provide up to EUR 300 million (USD 337 million) in credit lines to banks on-lending to women-led businesses. EU, the Turkish Ministry of Labour and Social Security, and the Turkish Employment Agency plan to offer mentoring and ...
June 11, 2015 - 1:34pm from CGAP Microfinance Blog
Since the start of the Syrian crisis in 2011, almost 15% of the Syrian population – more than three million – have fled their homes to find refuge in Turkey, Lebanon, Jordan, Iraq, and Egypt. In addition to the psychological trauma, their livelihoods have been threatened.
May 19, 2015 - 5:03am from MicroCapital
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), and the International Finance Corporation (IFC), a member of the US-based World Bank Group that seeks to increase economic growth in developing countries, recently announced that the two organizations will disburse a senior loan of USD 97 million to Alternatifbank (ABank), a private commercial bank in Turkey. EFSE’s share of the multipurpose credit facility is USD 22 million, an amount ...
May 7, 2015 - 4:30pm from MicroCapital
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle focusing on Southeast Europe and Central Asia, recently invested in two microfinance institutions (MFIs) in an effort to support micro- and small enterprises: Mikrofin, an MFI in Bosnia and Herzegovina with a network of 64 offices; and Opportunity Bank Serbia (OBS), a member of US-based Opportunity International, which is active in in 22 countries. The loan amounts were EUR 5 million (USD 5.6 ...
April 20, 2015 - 5:23pm from Private Sector Development Blog
The U.S. Federal Reserve System has taken new steps toward raising interest rates, but there is a disconnect between what the Fed and markets think will happen. What does it all mean for emerging and developing countries?   Central banks in developed economies have created an environment of ultra-low interest rates to rekindle economic growth and to battle falling inflation. They’re doing this by keeping policy rates close to zero and “printing money” on an ...
April 18, 2015 - 4:29pm from MicroCapital
Gemeinschaftsbank für Leihen und Schenken (GLS), a German bank that focuses on investing in social and ecological projects, reportedly has invested EUR 22 million (USD 23 million) in the Green for Growth Fund Southeast Europe (GGF), a Germany-based fund that invests in energy efficiency (EE) and renewable energy sources. The German Federal Ministry for Economic Cooperation and Development (BMZ) has also invested EUR 9 million (USD 10 million) in GGF. The additional capital is expected to ...
March 25, 2015 - 1:51pm from Private Sector Development Blog
In 2013, investment commitments to infrastructure projects with private participation declined by 24 percent from the previous year.  It should be welcome news that the first half of 2014 (H1) data – just released from the World Bank Group’s Private Participation in Infrastructure (PPI) database, covering energy, water and sanitation and transport – shows a 23 percent increase compared to the first half of 2013, with ...
March 17, 2015 - 3:18am from MicroCapital
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently issued a USD 20 million senior loan to AccessBank, an organization founded in 2002 to provide credit and other financial services to  smaller businesses and low-income families in Azerbaijan. The loan will be used to provide financing for approximately 6000 additional micro- and small enterprises (MSEs) in rural parts of the country. According to Monika Beck, ...
March 13, 2015 - 3:16pm from Center for Financial Inclusion Blog
> Posted by Center Staff #147841446 / gettyimages.com In over 100 countries around the world, central banks, stock markets, finance providers, NGOs, and others are coming together en masse this week and next to target the financial inclusion of one of the most underserved client segments: children and youth.
February 25, 2015 - 2:24pm from MicroCapital
The European Fund for Southeast Europe (EFSE), a Luxembourg-based investor in the development of local financial sectors in Southeast Europe and parts of Central Asia, recently informed MicroCapital that it has loaned EUR 20 million (USD 23 million) to Burgan Bank, a personal and retail bank in Turkey. The funds are to be on-lent on a “long-term” basis to micro-, small and medium-sized enterprises in rural areas of the country. As of 2014, EFSE reported total assets of EUR 854 ...
February 23, 2015 - 6:20pm from MicroCapital
The European Fund for Southeast Europe (EFSE), a Luxembourg-based investor in the development of local financial sectors in Southeast Europe and parts of Central Asia, recently informed MicroCapital that it has loaned EUR 20 million (USD 23 million) to AccessBank, an organization founded in 2002 to provide credit and financial services to Azerbaijan’s smaller businesses and low-income families. The funds are to be on-lent to micro-, small and medium-sized enterprises in rural areas of the ...
February 6, 2015 - 5:01am from MicroCapital
The German government’s Bundesministerium für wirtschaftliche Zusammenarbeit und Entwicklung (BMZ) has agreed to invest equity in the amount of EUR 15 million (USD 17 million) in the European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV). This new investment, which is in the highest risk “first-loss” tranche of EFSE, raises BMZ’s total commitment to the fund to approximately EUR 175 million (USD 200 million). The infusion will be used to ...
February 3, 2015 - 7:07pm from MicroCapital
The European Union (EU) and the European Bank for Reconstruction and Development (EBRD), a multilateral institution headquartered in London, have announced a joint program to support small and medium-sized enterprises (SMEs) in Georgia, Moldova and Ukraine. The program will offer loans to SMEs with the aim of helping them grow and identify trading opportunities with EU members. The program includes a grant of EUR 10 million (USD 11.3 million) that will be used to guarantee EBRD’s funding ...
February 1, 2015 - 9:48am from MicroCapital
The Green for Growth Fund, Southeast Europe (GGF), a Germany-based fund that invests in energy efficiency (EE) and renewable energy sources, recently disbursed a senior loan of USD 2 million to Agricultural Cooperative Bank of Armenia Leasing (ACBA Leasing). ACBA-Credit Agricole Bank (ACBA), a regulated bank in Armenia that is part of the French Credit Agricole group, holds a majority equity stake in ACBA Leasing. The loan is intended to support EE projects in the country that will “yield ...
January 21, 2015 - 1:43am from MicroCapital
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it is loaning EUR 10 million (USD 11.6 million) to UniCredit Bank Serbia, a subsidiary of Italy-based financial services company UniCredit Group, for on-lending for housing purchases and home improvement projects. According to Claudio Cesario, the CEO of UniCredit Bank Serbia, the bank has “two options for our retail clients: to buy space for living, or invest ...
January 21, 2015 - 1:23am from MicroCapital
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently extended loans to Garanti Leasing (GL), a leasing subsidiary of Turkey’s Garanti Bank (GB), and Banca Intesa Beograd (BIB), a commercial bank in Serbia that is part of Italy’s Intesa Sanpaolo. The loan to GL totals EUR 20 million (USD 23 million) with 50 percent being earmarked for on-lending to micro- and small-sized enterprises (MSEs) in “priority development regions” ...