| Project Detail |
Location:
Türkiye
Project number:
44965
Business sector:
Depository Credit (banks)
Notice type:
Private
English-language PSD published:
03 Dec 2024
Project Description
This PSD relates to a historical Bank project approved some years ago, and does not represent a new approval, or allocation of new funds. Disclosure of this PSD was deferred in accordance with the transparency framework in place at the time, but due to an administrative oversight, was not subsequently disclosed
In June 2013 the Bank approved a EUR 30 million subordinated loan to support the growth of Fibabank, the relaunch of the Fiba Group’s banking activities in Turkey, all of which was to be on-lent to eligible MSMEs active in the relatively less developed regions of the country.
Project Objectives
The transaction was designed to support the growth of Fibabank, then a promising newcomer into the market, at an opportune stage of its development, and in anticipation of strong growth and innovative activities. Growth was intended to be achieved by focusing on clients outside the big cities, and innovation. |
