FIF- TurWiB II- QNB Finansbank

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Overview

Provision of a senior unsecured loan to QNB Finansbank A.S. ("QNB Finansbank"), in the amount of up to USD 50 million, under the Turkey Women in Business II ("TurWiB II"), a blended programme established under the Financial Intermediaries Framework ("FIF") to support financing for women led small and medium-sized enterprises (SMEs) to promote women entrepreneurship in Turkey. The loan may be provided in one or more tranches.

Project ID 53730

Status Complete

Location

Türkiye

Business Sector

Financial Institutions

Notice Type

Private

Project timeline

Exploratory
Passed Concept Review
Passed Structure Review
Passed Final Review
Board Approved
Signed
Implementing
Completed

Company Contact Information

Engin Basaga
structured.funding@qnbfinansbank.com.tr
+90-212 318 5683
+90-212 318 5648
www.qnbfinansbank.com/en/
Buyukdere Caddesi No: 215 Gayrettepe Istanbul 34394 TURKEY

Project ID 53730

Status Complete

Location

Türkiye

Business Sector

Financial Institutions

Notice Type

Private

Approval Date

22 Jun 2022

Disclosure date

29 Apr 2022

FIF- TurWiB II- QNB Finansbank (Turkish) (PDF, 0.47MB)

Project description

Project objectives

TurWiB II is an integrated and dedicated programme supporting women entrepreneurship and women-led SMEs. EBRD financing will be accompanied by (i) a technical cooperation programme to help QNB Finansbank to build their internal capacity to better serve this segment, and (ii) a risk sharing mechanism supported by the Turkish Credit Guarantee Fund ("CGF") to stimulate lending on a sustainable basis. In addition, women entrepreneurs will be provided with advisory, mentorship and networking opportunities, facilitating their access to know-how and non-financial development services, as well as access to markets.

Transition impact

ETI Score: 70

ETI score:70

e Project will contribute to Inclusive and Competitive transition impact qualities. It supports strengthening the role of women-led SMEs in the economy, putting emphasis on under-served women entrepreneurs, including first-time borrowers and those based outside of main commercial centres in Turkey. Moreover, as part of the Program, direct engagement with women entrepreneurs and women-led SMEs serves to improve their competitiveness and resilience, while close engagement with PFIs on delivery of non-financial services serves to create a demonstration effect of the value of these services for their clients.

Client information

QNB FINANSBANK AS

QNB Finansbank is Turkey's sixth largest private bank by asset size (9th when state banks are included) with total consolidated assets of EUR 26 billion as of 31 December 2021. It is 99.88% owned by Qatar National Bank Q.P.S.C. (QNB), which is in turn 50% owned by Qatar Investment Authority, Qatar's sovereign wealth fund, (QIA) with the rest of the shares being publicly traded. QNB Finansbank also provides leasing and factoring services through its two large subsidiaries: QNB Finansleasing QNB and Finansfactoring. QNB Finansbank is currently rated B2 (neg) by Moody's and B (neg) by Fitch.

EBRD Finance Summary

USD 50,000,000.00

Total project cost

USD 50,000,000.00

Additionality

The additionality stems from i) financing structure that supports QNB Finansbank in acquiring longer-term external financing and ii) standard-setting by helping projects and clients to achieve higher standards. Transaction is expected to support QNB Finansbank to roll out new products to better meet the needs of women-led SMEs, improving access to finance.

Environmental & Social Summary

Categorised FI (ESP 2019). QNB Finansbank is an existing client and has demonstrated compliance with the applicable PRs through its annual environmental and social reporting. QNB Finansbank will be required to continue to comply with EBRD's Performance Requirements (PRs) 2, 4 and 9,; and continue to implement the applicable EBRD's E&S Risk Management Procedures for Financial Institutions and submit Annual Environmental and Social Reports to the Bank.

Technical Cooperation and Grant Financing

TurWiB II is supported by a TC programme for a total amount of up to EUR 4.13 million funded by the EU-EBRD Private Sector Support Facility, EBRD SSF and Turkey-EBRD Cooperation Fund Account.

Company Contact Information

Engin Basaga
structured.funding@qnbfinansbank.com.tr
+90-212 318 5683
+90-212 318 5648
www.qnbfinansbank.com/en/
Buyukdere Caddesi No: 215 Gayrettepe Istanbul 34394 TURKEY

PSD last updated

29 Apr 2022

Understanding transition

Further information regarding the EBRD’s approach to measuring transition impact is available here.

Business opportunities

For business opportunities or procurement, contact the client company.

For business opportunities with the EBRD (not related to procurement) contact:

Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

For state-sector projects, visit EBRD Procurement:

Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

Specific enquiries can be made using the EBRD Enquiries form.

Environmental and Social Policy (ESP)

The ESP and its associated Environmental and Social Requirements (ESRs) set out the ways in which the EBRD implements its commitment to promoting “environmentally sound and sustainable development”. The ESP and the ESRs include specific provisions for clients to comply with the applicable requirements of national laws on public information and consultation, and to establish a grievance mechanism to receive and facilitate resolution of stakeholders’ concerns and grievances, in particular, about the environmental and social (E&S) performance of the client and the project. Proportionate to the nature and scale of a project’s environmental and social risks and impacts, the EBRD also requires its clients to disclose information, as appropriate, about the risks and impacts of projects or to undertake meaningful consultation with stakeholders and consider and respond to their feedback.

More information on the EBRD’s practices in this regard is set out in the ESP.

Integrity and compliance

The EBRD's Office of the Chief Compliance Officer (OCCO) promotes good governance and ensures that the highest standards of integrity are applied to all of the Bank's activities in accordance with international best practice. Integrity due diligence is conducted on all Bank clients to ensure that projects do not present unacceptable integrity or reputational risks to the Bank. The EBRD believes that identifying and resolving issues in the project assessment and approval stages is the most effective means of ensuring the integrity of Bank transactions. OCCO plays a key role in these protective efforts andhelps to monitor integrity risks in projects post-investment.

OCCO is further responsible for investigating allegations of fraud, corruption and misconduct in EBRD-financed projects. Anyone, either within or outside the Bank, who suspects fraud or corruption should submit a written report to the Chief Compliance Officer by email to compliance@ebrd.com. OCCO will follow-up all matters reported. It will review all matters reported. Reports can be made in any language of the Bank or of the Bank's countries of operation. The information provided must be made in good faith.

Access to Information Policy (AIP)

The AIP, which entered into force on 1 January 2025, sets out how the EBRD discloses information and consults with its stakeholders to promote better awareness and understanding of its strategies, policies and operations. Please visit the Access to Information Policy page to find out what information is available from the EBRD website.

Specific requests for information can be made using the EBRD enquiries form.

Independent Project Accountability Mechanism (IPAM)

If efforts to address environmental, social or public disclosure concerns with the Client or the Bank are unsuccessful (for example, through the client’s project-level grievance mechanism or through direct engagement with Bank management), individuals and organisations may seek to address their concerns through the EBRD’s Independent Project Accountability Mechanism (IPAM).

IPAM independently reviews project issues that are believed to have caused (or to be likely to cause) harm. The purpose of the mechanism is: to support dialogue between project stakeholders to resolve environmental, social and public disclosure issues; to determine whether the Bank has complied with its Environmental and Social Policy or the project-specific provisions of its Access to Information Policy; and where applicable, to address any existing non-compliance with these policies, while preventing future non-compliance by the Bank.

Please visit the Independent Project Accountability Mechanism webpage to find out more about IPAM and its mandate and how to submit a Request for review. Alternatively, contact IPAM by email at ipam@ebrd.com for guidance and more information on IPAM and how to submit a request.

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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FIF- TurWiB II- QNB Finansbank

Overview

Project timeline

Company Contact Information

Project description

Project objectives

Transition impact

Client information

EBRD Finance Summary

Total project cost

Additionality

Environmental & Social Summary

Technical Cooperation and Grant Financing

Company Contact Information

PSD last updated

Understanding transition

Business opportunities

General enquiries

Environmental and Social Policy (ESP)

Integrity and compliance

Access to Information Policy (AIP)

Independent Project Accountability Mechanism (IPAM)