{"id":80184,"date":"2023-10-23T01:00:50","date_gmt":"2023-10-23T01:00:50","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/10\/23\/international-finance-corporation-is-allocating-35-of-usd-125-mn-loan-to-green-smes-in-turkey\/"},"modified":"2023-10-23T01:00:50","modified_gmt":"2023-10-23T01:00:50","slug":"international-finance-corporation-is-allocating-35-of-usd-125-mn-loan-to-green-smes-in-turkey","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/10\/23\/international-finance-corporation-is-allocating-35-of-usd-125-mn-loan-to-green-smes-in-turkey\/","title":{"rendered":"International Finance Corporation is allocating 35% of USD 125 mn loan to green SMEs in Turkey"},"content":{"rendered":"

Fresh IFC financing for Turkey\u2019s green sector:<\/strong> The International Finance Corporation (IFC) will invest USD 125 mn in Diversified Payment Rights (DPR) to Turkey\u2019s state-owned bank Yap\u0131 Kredi, with at least 35% of the funds earmarked for SMEs focused on energy efficiency and renewables, according to a statement<\/a> published last week.<\/p>\n

Turkey is big on DPRs, but what exactly are they? <\/strong>DPRs are future flow securitizations<\/a>, a debt instrument that allows a company or bank to borrow funds by promising to pay back using money they can reasonably expect to make at a future date. It is collateralized by a bank\u2019s existing and future rights to receive foreign-currency payments into their accounts with correspondent banks abroad, global capital market consultant FitchRatings<\/a> explains, adding that for Turkish banks these payments often relate to exports, capital flows, tourism or remittances. \u201cDPRs are beneficial for providing emerging-market banks with access to foreign-currency funding in the international capital markets on attractive terms,\u201d the global consultant added.<\/p>\n

Yapi Kredi is working on securing backing for Turkey\u2019s green transition:<\/strong> In October 2022, IFC provided a USD 120 mn blue and green loan<\/a> to Yap\u0131 Kredi's leasing subsidiary, Yap\u0131 Kredi Leasing. The multilateral bank said it will use half of the proceeds to invest in blue projects \u2014 such as clean water, water efficiency, wastewater treatment, marine and ocean economy activities and water pollution prevention \u2014 while the other half for green projects including energy-efficient equipment, EVs, charging infrastructure, green construction, and renewable energy. In the same month, the EBRD also provided a EUR 50 mn on-lending facility<\/a> to Yap\u0131 Kredi Leasing to support renewables and energy saving projects.<\/p>\n","protected":false},"excerpt":{"rendered":"

Fresh IFC financing for Turkey\u2019s green sector: The International Finance Corporation (IFC) will invest USD 125 mn in Diversified Payment Rights (DPR) to Turkey\u2019s state-owned bank Yap\u0131 Kredi, with at least 35% of the funds earmarked for SMEs focused on energy efficiency and renewables, according to a statement published last week. Turkey is big on […]<\/p>\n","protected":false},"author":1,"featured_media":80185,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84],"tags":[83,11,164,162,88,191],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-80184","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-enterpriseclimate","tag-green-finance","tag-ifc","tag-renewables","tag-turkey","wpautop","entry"],"acf":{"mongo_id":"70b96e83-bdc5-4ef3-bf2b-b929c9277121","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/10\/1618.jpg","photo_position":"above","related_issue":[80168],"teaser":"","voice_url":""},"yoast_head":"\nInternational Finance Corporation is allocating 35% of USD 125 mn loan to green SMEs in Turkey - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2023\/10\/23\/international-finance-corporation-is-allocating-35-of-usd-125-mn-loan-to-green-smes-in-turkey\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"International Finance Corporation is allocating 35% of USD 125 mn loan to green SMEs in Turkey\" \/>\n<meta property=\"og:description\" content=\"Fresh IFC financing for Turkey\u2019s green sector: The International Finance Corporation (IFC) will invest USD 125 mn in Diversified Payment Rights (DPR) to Turkey\u2019s state-owned bank Yap\u0131 Kredi, with at least 35% of the funds earmarked for SMEs focused on energy efficiency and renewables, according to a statement published last week. 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