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ACTIVITIES
İŞBANK
ANNUAL REPORT 2014
25
Project finance will remain significant
in 2015.
İşbank expects project finance to remain
a significant part of the Bank’s business
in 2015. It continues to provide sufficient
financing solutions backed by deep
expertise in technical, fiscal and financial
analysis. İşbank aims to maintain a leading
and robust position in financing projects in
fields that are vital to the development of
the national economy, by transferring funds
to real sector.
Collaborating with international
financial institutions in investment
finance
In addition to the funds previously obtained
from the European Investment Bank
(EIB), İşbank signed a EUR 150 million loan
agreement in December 2013. The funds
which are to be allocated to companies with
up to 3,000 employees were disbursed
in 2014. 40% of the referenced facility is
allocated to sectors which are not specified
in EIB’s excluded sectors list; and which
have no environmental and social risks such
as among others; textiles, food, tourism,
automotive, chemical, services. The
remaining 60% of the facility is allocated
to projects that will contribute positively in
environmental and social aspects, such as
education, healthcare, energy efficiency,
renewable energy, recycling, and the like.
İşbank provides qualified financial solutions in project
finance thanks to its deep sector experience backed
by technical, fiscal and financial analyses.
İşbank continues to provide funding to
renewable energy and energy efficiency
projects through the EUR 175 million
granted under the Mid-size Sustainable
Energy Financing Facility (MidSEFF),
from EIB and the European Bank for
Reconstruction and Development (EBRD).
İşbank allocates the funds provided under
the MidSEFF Program to finance medium-
sized renewable energy, industrial energy
efficiency and waste-to-energy projects.
Thereby, the Bank provides support to
sustainable energy projects that contribute
to Turkey’s energy supply and that meet
prescribed environmental and social
standards.
Efforts to execute the fund supplied
by the Japanese Bank for International
Cooperation (JBIC) to finance goods and
services provided from Japan in relation to
renewable energy, which amounts to USD
300 million and targets companies as long-
term and low-cost financing, continued in
2014.
Funds totaling USD 220 million were
provided from OPIC (Overseas Private
Investment Corporation) to meet the
financing needs of small and medium-
sized businesses, including women
entrepreneurs and those operating in
priority regions for development.
Under the loan agreements signed
between EBRD and İşbank:
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Under the Turkey Women in Business
Programme (WiB), a total of EUR 25
million was extended to women-owned
and women-led small and medium-sized
enterprises to support the financing of
investments or working capital needs. A
new loan amounting to USD 12.5 million
was also obtained under the same
program.
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As part of the Turkey Agribusiness SME
Financing Facility (TurAFF), funds totaling
EUR 10 million were extended to SMEs
operating in the agricultural sector for
the financing of their investment and
working capital needs in 2014. New funds
amounting to USD 25 million were also
secured under the same program.
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As part of TurSEFF (Turkey Sustainable
Energy Financing Facility), the allocation
of USD 40 million and EUR 15 million
to industrial enterprises, commercial
entrepreneurs and householders who
wish to invest in energy efficiency
or renewable energy projects were
completed. Under the same program,
another loan amounting to USD 90
million was obtained and efforts to
extend this fund to borrowers continued.
Under the European Union Small
Enterprises Loan Program II (SELP II), funds
amounting to EUR 78.4 million provided
from the German Development Bank (KfW
Entwicklungsbank) was continued to be
extended to SMEs throughout 2014.
Under the agreements signed by and
between İşbank and RBS in 2014, USD
25 million was secured for pre-export
financing of export companies. The entire
amount of the funding was channeled to
meet the financing needs of the customers.
In addition, throughout 2014, efforts to
extend a total of USD 34 million and EUR
13 million which were provided fromWorld
Bank in previous years, continued.