Turkey Market Profile

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” ...
January 14, 2015 - 2:14am from MicroCapital
The European Bank for Reconstruction and Development (EBRD), a multilateral financial institution headquartered in England, recently extended loans to Finansbank, a commercial bank in Turkey that is a subsidiary of the National Bank of Greece Group, and Bank CenterCredit (BCC), a Kazakhstan-based joint stock company. The loan to Finansbank totals EUR 50 million (USD 59.2 million) and is for on-lending to small and medium-sized enterprises (SMEs) that are managed by female ...
January 7, 2015 - 5:03am from MicroCapital
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it will disburse a senior loan equivalent to EUR 7 million (USD 8.3 million) but denominated in Romanian leu to Patria Credit IFN SA (Non-banking Financial Institution Corporation), a microfinance institution (MFI) in Romania. The aim of the loan is to fund small business ventures, microenterprises and small-scale farmers located in rural areas of ...
January 6, 2015 - 5:21pm from MicroCapital
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it will disburse a senior loan of EUR 7 million (USD 8.3 million) to Agricover Credit IFN SA (Non-banking Financial Institution Corporation), a lender to farmers in Romania. The aim of the loan is to fund the development of agricultural microenterprises and small business ventures in the country. Ms Monika Beck, the chairperson of the board of EFSE, said ...
January 4, 2015 - 9:16am from MicroCapital
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it will disburse a senior loan of EUR 25 million (USD 30 million) to Finansbank, a commercial bank in Turkey that is a subsidiary of the National Bank of Greece Group, a Greek financial conglomerate. The aim of the loan is to fund micro-, small and medium-sized enterprises (MSMEs) in Turkey, with 50 percent of the funding to be dedicated to MSMEs located in the ...
December 31, 2014 - 12:58am from MicroCapital
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), and Green for Growth Fund, Southeast Europe (GGF), a Germany-based fund that invests in energy efficiency and renewable energy sources, recently granted loans of EUR 10 million (USD 12.1 million) each to Halkbank AD Skopje, a Macedonia-based bank, for expanding the bank’s work with micro- and small enterprises (MSEs) as well as to support energy efficiency and the housing market. This ...
December 19, 2014 - 9:29pm from MicroCapital
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it is disbursing a senior loan of EUR 3.4 million (USD 4.17 million) to Agricultural Cooperative Bank of Armenia (ACBA) Leasing, a subsidiary of ACBA, for on-lending to micro- and small enterprises (MSEs). This loan is intended to focus on supporting agricultural clients and other MSEs in Armenia. According to Monika Beck, the Chairperson of the Board of ...
December 10, 2014 - 1:30am from MicroCapital
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently issued a senior loan of EUR 5 million (USD 6.2 million) to Alter Modus, a Montenegro-based microfinance institution (MFI), for lending to micro- and small enterprises (MSEs) within Montenegro. Alter Modus historically has made loans of up to EUR 10,000 (USD 12,300) with average loans sizes of around EUR 1,500 (USD 1,800). The loan from EFSE is intended to enable Alter Modus to ...
December 8, 2014 - 4:00pm from MicroCapital
Event Name: Credit Risk and Problem Loan Management Workshop Event Dates: January 29 – 30, 2015 Event Location: Taj Exotica, Cawaddo, Benaulim, Goa, India Cost: Pricing is based on two-person teams from each institution: If registered before December 17, the cost per team is USD 2,000, otherwise the fee is USD 3,000. A discount of USD 500 is offered to members of the Small Business Banking Network (SBBN). Summary of Event: This conference is meant for peers to ...