Turkey Market Profile

November 13, 2014 - 5:01pm from MicroCapital
The European Fund for Southeast Europe (EFSE), a Luxembourg-based microfinance investment vehicle (MIV), will disburse a EUR 10 million (USD 12.5 million) senior loan to Fibabanka, a Turkish commercial bank, for lending to small and medium-sized enterprises (SMEs). Bekir Dildar, Fibabanka’s general manager, stated that “this medium-term funding will enhance our finance capacity and enable us to reach out to new SME clients.” This deal follows the completion of a previous loan from EFSE in ...
November 11, 2014 - 4:38am from MicroCapital
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral financial institution, is in the final stage of considering an investment totaling EUR 25 million (USD 31 million) in The Green for Growth Fund, Southeast Europe (GGF), a Germany-based fund that invests in energy efficiency (EE) and renewable energy sources. EBRD expects that the investment would promote expansion of the market for financing sustainable energy by demonstrating the benefits of energy ...
November 9, 2014 - 12:21am 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 totaling USD 5 million to Muganbank, a financial institution that offers retail and corporate banking services in Azerbaijan, to on-lend to finance energy-efficient measures to be taken by households and micro-, small and medium-sized enterprises (MSMEs). GGF and Muganbank anticipate that these loans will result in an ...
November 6, 2014 - 1:40pm from Microfinance Africa
(Dubai) 4th Global Islamic Microfinance Forum was successfully ended in Dubai. The purpose of that forum was to promote, strengthen and unite the organizations of Islamic microfinance. The delegates from international organizations related to Microfinance, Islamic microfinance, micro insurance and NGOs participated in the event i.e. World Bank, Islamic Development Bank – IFC and so on. The aim of ...
November 5, 2014 - 12:33am from MicroCapital
Green for Growth Fund Southeast Europe (GGF), a Luxembourg-based foundation that finances environmentally sustainable enterprises, along with the Nederlandse Financierings-Maatschappijvoor Ontwikkelingslanden (FMO), a Dutch development bank, recently entered a joint agreement to provide Turkish bank Fibabanka with a credit line of EUR 40 million (USD 50 million) for on-lending to businesses for efforts to have plans to become more energy-efficient. Fibabanka’s recently launched ...
October 29, 2014 - 5:22am from MicroCapital
The European Bank for Reconstruction and Development (EBRD), a UK-based multilateral financial institution, along with the European Union Delegation to Turkey, the Turkish Employment Agency and the Ministry of Labour and Social Security of the Republic of Turkey recently launched the “Finance and Advice to Women in Business” program, an initiative that aims to strengthen and increase the role of women in the Turkish economy. EBRD will provide up to EUR 300 million (USD 380 million) ...
October 11, 2014 - 2:17pm from MicroCapital
The European Investment Fund, a member of the European Investment Bank Group providing financing to small and medium-sized enterprises, recently loaned EUR 2 million (USD 2.53 million) to Vitas, a Romanian microfinance institution, through European Progress Microfinance, a microfinance investment vehicle supported by the EU’s European Commission and the European Investment Bank. The loan will be used to provide funding to young Romanian microentrepreneurs who are unable to access ...
October 8, 2014 - 1:02pm from Global development: Poverty matters blog | guardian.co.uk
The rise of emerging economies such as Brazil and China has not only lifted millions of people out of poverty, but offers new opportunities and resources for development elsewhere.China, which is poised to become the world’s largest economy, is now a major source of aid and private investment for development, providing 20% of private foreign direct investment in ...
September 24, 2014 - 5:03am from MicroCapital
The Green for Growth Fund, Southeast Europe (GGF), a Germany-based fund that invests in energy efficiency and renewable energy sources, has disbursed a senior loan of EUR 2 million (USD  2.6 million) to Microinvest, a microfinance institution (MFI) in Moldova that was founded by Soros Foundation – Moldova, an affiliate of the US-based Open Society Foundations. Microinvest is expected to use the funds from this loan to provide loans to micro- and small enterprises (MSEs) in Moldova for ...
September 18, 2014 - 5:30pm from MicroCapital
Event Name: Mobile Money & Digital Payments Global Event Date: November 18 to November 20, 2014 Event Location: Wyndham Grand Istanbul Levent, Istanbul, Turkey Cost: The cost to attend the event is GBP 1,499 (USD 2,448) for “vendors,” with an early registration rate of GBP 1,249 (USD 2,039) available until October 3, 2014. The rate is GBP 650 (USD 1,062) for “buyers” including participants representing mobile network operators (MNOs), banks and governments, with ...
September 10, 2014 - 6:00am from Global development: Poverty matters blog | guardian.co.uk
During more than a decade of working in parts of the world affected by conflict, I have never been far from sharing food. As an outsider, invariably I have been the guest at a restaurant or the family home of a relative stranger.On occasions, food itself has been the subject of argument. In 2008,
August 22, 2014 - 5:03am from MicroCapital
The Green for Growth Fund, Southeast Europe (GGF), a Germany-based fund that invests in energy efficiency and renewable energy sources in Southeast Europe, has loaned EUR 15 million (USD 19.9 million) to Yapi Kredi Leasing, a Turkey-based subsidiary of Turkey’s Yapi Kredi Bank, with the aim of expanding Yapi Kredi’s “sustainable long-term energy efficient equipment financing.” Yapi Kredi Leasing leases a variety of products to corporate clients and micro-, small and medium-sized ...
August 19, 2014 - 3:08pm from MicroCapital
Kiva, a US-based nonprofit crowdfunding organization that raises money for microfinance institutions (MFIs), and Grameen-Jameel Microfinance Limited, a Cyprus-based nonprofit joint venture of the US-based Grameen Foundation and Saudi Arabia-based Abdul Latif Jameel Community Initiatives have reportedly entered into a partnership to launch the “Change is in Your Hands” campaign, an initiative which uses the website 
July 25, 2014 - 9:47pm from MicroCapital
AccessBank Azerbaijan, a microfinance bank (MFB) in Azerbaijan, has borrowed USD 15 million from the Green for Growth Fund, Southeast Europe (GGF), a European public-private partnership that focuses on improving energy efficiency and promoting renewable energy sources in Southeastern Europe, with the aim of increasing the AccessBank’s financing of energy-efficient projects. AccessBank is planning to use the GGF loan for on-lending to micro-, small and medium-sized enterprises (MSMEs), ...
July 24, 2014 - 5:50am from MicroCapital
The European Investment Fund (EIF), a provider of finance to organizations that lend to micro-, small and medium-sized enterprises (MSMEs) in Europe, and UniCredit Bulbank, a Bulgarian bank part of UniCredit Group of Italy, have announced a guarantee agreement that will enable UniCredit Bulbank to support increased financial inclusion of approximately 270 microenterprises in the country [1]. Under the guarantee, the European Progress Microfinance Facility (Progress Microfinance), which is ...
July 12, 2014 - 5:03am from MicroCapital
Bank of Georgia, a Tbilisi-based commercial bank that offers corporate and retail banking, wealth management, brokerage and insurance services in Georgia, Ukraine and Belarus, recently borrowed EUR 18.5 million (USD 25.2 million) under a senior loan agreement from the European Fund for Southeast Europe (EFSE), a Luxembourg-based, government-backed microfinance investment vehicle. The loan will be used for on-lending to approximately 3,000 micro and small enterprises in ...
June 26, 2014 - 12:41am from MicroCapital
The International Finance Corporation (IFC), the private-investment arm of the World Bank Group, has loaned EUR 35 million (USD 47.5 million) to Garanti Bank Romania, the Romanian arm of the Turkey-based Garanti Bank, to support on-lending to small and medium-sized enterprises (SMEs), including loans totaling EUR 20 million (USD 27.2 million) to companies owned or managed by women. As MicroCapital reported at the time,
June 24, 2014 - 3:27pm from Global development: Poverty matters blog | guardian.co.uk
Global spending on humanitarian relief soared to a record $22bn (£12.93bn) last year as conflicts in Central African Republic, South Sudan and Syria combined with natural disasters such as typhoon Haiyan in the Philippines, drove donors to pay out more emergency aid than ever before.Donations from governments reached $16.4bn (£9.63bn) last year, a 24% rise from 2012 ...
June 18, 2014 - 6:01pm from MicroCapital
The European Investment Fund (EIF), a provider of finance to lenders to micro-, small and medium-sized enterprises (MSMEs), and Libra Internet Bank, a Romania-based bank that conducts the majority of its business online, have signed a guarantee agreement to help Libra lend RON 30 million (USD 9.26 million) to 400 microbusinesses in Romania. Under the agreement, the European Progress Microfinance Facility, which is funded by the EU’s European Commission and managed by EIF, will pay 75 ...
June 4, 2014 - 11:19pm from MicroCapital
The London-based European Bank for Reconstruction and Development (EBRD) is considering issuing a syndicated A/B loan of USD 50 million to provide capital to Azerbaijan-based, “socially oriented” bank DemirBank for “on-lending to micro, small and medium-sized enterprises (MSMEs)”[1] in the country. If the board of EBRD approves the transaction, the institution would fund the “A” portion of the loan from its own resources, while the “B” portion of the loan would be offered by ...