Turkey Market Profile

May 27, 2016 - 1:02am from MicroCapital
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced it has loaned Fibabanka, a Turkish commercial bank, EUR 20 million (approximately USD 22 million) to finance micro- and small enterprises (MSEs) working in the Turkish agricultural sector. Fibabanka previously received a loan for MSEs from EFSE in 2012. EFSE will also provide technical assistance to Fibabanka’s agricultural financing staff. Emre Ergun, ...
May 9, 2016 - 4:19pm from All About Finance - A blog by Asli Demirguc-Kunt
Access to finance is an important tool against poverty since it allows for the smoothing of consumption. The equality of access amongst different groups in the society is also crucial in terms of correctly allocating the positive benefits of improved financial services. In a recent paper published in the World Bank Policy Research ...
April 27, 2016 - 4:45pm from MicroCapital
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced it has loaned Microcredit Foundation MI-BOSPO, a nonprofit microfinance institution in Bosnia and Herzegovina, EUR 2.5 million (approximately USD 2.8 million). MI-BOSPO will use the proceeds for agricultural and other rural development in Bosnia and Herzegovina, a subsector in which MI-BOSPO recently has been expanding. Along with the loan, EFSE will sponsor ...
April 19, 2016 - 3:08am from MicroCapital
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently extended a loan facility totalling EUR 15 million (approximately USD 17 million) to Finansbank A.S., a Turkish subsidiary of the National Bank of Greece Group, a financial conglomerate based in Athens.Half of the loan will be used to on-lend in “Priority Development Regions” in Turkey, with the remainder to be used to lend to micro- and small enterprises (MSEs). EFSE and ...
April 4, 2016 - 10:53am from MicroCapital
The Green for Growth Fund Southeast Europe (GGF), a Germany-based fund that invests in energy efficiency and renewable energy, recently announced that it has agreed to disburse a senior loan of EUR 2 million (USD 2.2 million) to ICS Total Leasing & Finance S.A. (TLF), a Moldova-based non-banking financial institution. TLF is owned for 25 percent by Netherlands-based Emerging Europe Leasing and Finance B.V. and for 75 percent by Netherlands-based Nederlandsche FInancieringsmaatschappij ...
February 25, 2016 - 2:20am from MicroCapital
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it will loan EUR 5 million (USD 5.5 million) to Nova Ljubljanska Banka (NLB) d.d. Sarajevo, which is controlled by Slovenian finance firm NLB Group, to enable younger and lower-income households in Bosnia and Herzegovina to acquire housing. Senad Redži, the director of NLB d.d., Sarajevo said “We have successfully cooperated with the EFSE for years in ...
January 29, 2016 - 5:52pm from Private Sector Development Blog
With this week's kickoff of the 2016 China “Business 20” (B20) proceedings in Beijing, this is an opportune time to reflect on some of the key accomplishments of the 2015 Turkey B20. As many readers of this blog know, the B20 is the premier dialogue platform of the business community with the G20 policymakers representing the most important ...
January 18, 2016 - 1:01am from MicroCapital
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it will loan EUR 5 million (USD 5.4 million) to Opportunity Bank Serbia (OBS), a branch of US-based microfinance network Opportunity International, to improve access to finance for micro -and small enterprises (MSEs) and low-income households in rural areas of Serbia. “Opportunity has an excellent outreach to the EFSE target group of MSEs and low-income ...
January 8, 2016 - 1:03am from MicroCapital
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it will loan EUR 10 million (USD 10.8 million) to UniCredit Bank Serbia, the Belgrade-based subsidiary of the Italian commercial banking firm UniCredit Group. UniCredit Bank Serbia plans to on-lend the funds to private households with the aim of contributing to home improvement efforts. The funding will be also available for housing loans for low-income ...
January 6, 2016 - 1:06am from MicroCapital
“Mapping Pathways out of Poverty: The State of the Microcredit Summit Campaign Report, 2015;” published by the Microcredit Summit Campaign; December 2015; available at: http://www.microfinancegateway.org/library/mapping-pathways-out-poverty-state-microcredit-summit-campaign-report-2015 This report analyzes the progress that global ...
December 18, 2015 - 5:04am from MicroCapital
The European Fund for Southeast Europe (EFSE), a Luxembourg-based fund that invests in the development of Southeast Europe and Central Asia’s financial sectors, recently provided Odeabank, a private deposit bank in Turkey, a loan of EUR 20 million (USD 21.86 million) to on-lend to micro and small-sized enterprises (MSEs) in Turkey [1]. This is the first loan that EFSE has issued to Odeabank. Alpaslan Yurdagül, Odeabank’s Assistant General Manager for Financial Institutions and ...
December 17, 2015 - 9:00pm from MicroCapital
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it will disburse a subordinated loan of USD 15 million to Tbilisi Business Center (TBC) Bank, a Tbilisi, Georgia-based commercial bank, to support access to financing for micro- and small enterprises (MSEs) as well as agricultural producers in rural areas of Georgia. TBC will be EFSE’s fifth partner lending institution in Georgia [1]. Monika Beck, the ...
December 11, 2015 - 4:32pm from Private Sector Development Blog
Using SME lines of credit and other SME support operations for long-term development or a quick term countercyclical fix?   I recently attended an interesting presentation about a truly impressive credit guarantee agency, the Korean Credit Guarantee Agency (KODIT), established 40 years ago with $44 billion in outstanding guarantees and 220,000 SMEs guaranteed annually. A truly impressive institution which has opened up bank lending to more and more SMEs, which otherwise ...
December 6, 2015 - 5:43am from MicroCapital
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), recently announced that it will disburse a loan of USD 3 million to Joint Stock Company Microfinance Organization Crystal, a microfinance institution based in Kutaisi, Georgia. Crystal plans to on-lend the funds to small-scale agricultural producers and rural microenterprises. It is anticipated that approximately 4,500 microloans will be made available. In addition, EFSE will offer ...
November 4, 2015 - 5:29am from MicroCapital
The European Commission (EC), the executive body of the European Union (EU), recently launched EaSI-MicPro, a new online platform where microcredit providers can present information about their operations. The target audience includes both microentrepreneurs and investors. Appearing on the platform indicates that the microcredit provider has agreed to act in accordance with the EU Code of Good Conduct, assuring investors of the credibility of the reporting standards implemented by the ...
November 2, 2015 - 12:45am from MicroCapital
The European Commission, the European Union’s executive body; the European Investment Fund (EIF), an EU-affiliated provider of finance to organizations that lend to small and medium-sized enterprises (SMEs); and six European microfinance institutions (MFIs) recently signed guarantee agreements under the European Programme for Employment and Social Innovation (EaSI), an initiative that supports “the modernisation of employment and social policies,”[3] job mobility, microfinance, ...
October 22, 2015 - 2:21pm from Private Sector Development Blog
Cities are the future. They are where people live and work. They are where growth happens and where innovation takes place. But they are also poles of poverty and, much too often, centers of unemployment. How can we unleash the potential of cities? How do we make them more competitive? These are urgent questions. Questions, as it turns out, with complex answers – that could potentially have huge returns for job creation and poverty reduction. Cities ...
September 18, 2015 - 3:33am from MicroCapital
Deutsche Bank, a Germany-based financial services company, recently announced that it had raised USD 100 million from unspecified private investors for the European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV). The funds will be used to “long-term” investments in microfinance institutions (MFIs) for on-lending to micro-, small and medium-sized enterprises (MSMEs) as well as to low-income households in order to facilitate the purchase ...
September 7, 2015 - 11:00am from The Microfinance Research Blog
People all over the world were horrified last week when they saw the picture of a dead Syrian child, Aylan Kurdi, being picked up from the beach in Turkey. His family’s attempt to escape the brutal civil war in their country had ended in tragedy. From Calais to Kos to Lampedusa, the blogging community has been following the refugee crisis in Europe — as well as the conflicts that feed it — as it rapidly escalated over the past two years, and especially this past summer. Here are ...
September 4, 2015 - 9:28am from Private Sector Development Blog
The urgent challenge of generating jobs and incomes – as the world’s