devinitorg/iati-policy-markers huggingface dataset:
DCM Akbank B3T2 The proposed project is an investment of up to US$75 million for IFC's own account in a Tier II Sustainability Bond to be issued by Akbank, the fourth largest private bank in Turkiye in terms of asset size and a long-standing IFC client. The bond will be a Basel III compliant Tier II with a maturity of 10 years, with a call option at the end of 5th year and would be issued under Akbank's Sustainable Finance Framework (SFF). IFC's investment will provide long-term capital that will enable the bank to continue supporting SMEs in Turkiye, including women-owned small and medium size enterprises (WSMEs) and climate activities. Stakeholder effects: increased access to SME finance with a focus on Climate Finance for SMEs and SME finance for Women-owned SMEs: The proposed investment will increase access to SME finance with a focus on WSMEs finance and SME climate finance projects. Turkeys SME Finance Gap is currently at US$62.5 billion, and access to finance is reported as the biggest obstacle to business operations. With an SME portfolio of US$2.9 billion equivalent or 7.6% of total gross loans as of June 2022, and growing its market share , Akbank is one of the leaders among Turkeys private banks in serving this segment. IFC anticipates that the Project will help Akbank to significantly increase its outstanding SME climate and WSME portfolio share over the next five.

Sustainability: IFC anticipates that the project will deepen the adoption of sustainable finance standards and practices by banks and other corporates in the Turkish market through demonstration and replication channels.
ModernKarton WCI Modern Karton Sanayi ve Ticaret A.S. (Modern Karton), the main operating company of the Eren Groups paper and packaging business, was established in 1974. It manufactures testliner and fluting paper using wastepaper at its factory located in Corlu, 100 km west of Istanbul. With 600,000 tons per annum capacity, Modern Karton is Turkeys largest plant in the corrugated board sector. Modern Karton has approached IFC for up to $40 million in debt to assist in financing working capital related to the recent expansion project and additional financing needs of the company and its packaging subsidiary.   The recent expansion project consists of capital expenditures of $400 million for:   -  a capacity increase of 400,000 metric tonnes per annum to the paper mill (i.e. installation of a new paper making machine);  -  an investment in their packaging and paper recycling businesses; and  -  an expansion of the associated cogeneration plant (for steam and power) and wastewater treatment plant. The proposed project will have the following key development impact:   Ensuring the sustainability of a domestic company and maintaining local employment: The project will help the leading Turkish producer survive the current economic downturn, which will in turn sustain employment of the workforce at Modern Karton and its corrugated boxing and waste paper collection subsidiaries. The company will continue to be a source of revenues to the Turkish government and contribute to Turkeys economic performance going forward.  Increased local supply chain:  MKs recent expansion benefits from a significant natural advantage of utilizing domestic wastepaper to produce corrugated paper (over 90% of this input is currently locally sourced).  IFCs investment in MK will help ensure that local waster paper will continue to be sourced, thereby creating additional business and job opportunities to those at the bottom of the pyramid who are involved in waste paper collection.   Positive climate change impact: Recycling and waste paper collection in the country are expected to increase as the new project comes on stream, with an associated climate change benefit for the country.
Intercity Project Intercity is the largest automobile fleet operational leasing company in Turkey with over 4000 cars and a 14% share of the fleet rental market in the country.  Established in 1992 by Mr. Vural Ak, the companys CEO, Intercity was one of the earliest entrants into the Turkish leasing sector.  Intercitys primary product is medium term vehicle leasing/financing for enterprises operating in Turkey.  The company primarily leases cars, light vans, and trucks which are used for various commercial activities including: supporting sales staff, monitoring and managing inventory and transportation and delivery of goods.  At the end of FY03, the company reported total assets of over $84 million and total tangible equity of $14 million.

The proposed project consists of a combined IFC investment of:  

-  a term loan for IFCs account of up to $15 million, 
-  a term loan for the account of participating banks of up to $25 million, and 
-  an equity investment amounting to up to 10% share of the companys shareholding.
Enerjisa Enerji Uretim A.S. The proposed IFC investment will extend corporate loans to EnerjiSA Enerji Üretim A.S. (EnerjiSA or the company), secured with its underlying portfolio of energy assets and contracts, to finance the first phase of EnerjiSAs capital investment program for the 2008 to 2012 period.  IFCs proposed investment will be in parallel with financing arranged by the Turkish commercial bank Akbank and the European commercial bank WestLB headquartered in Germany.  The project consists of the construction of a portfolio of one natural gas-fired thermal plant (TPP) and  according to current planning  ten hydroelectric power plants (HPP) in various locations throughout Western and Southern Turkey with total capacity of approximately 1.9 GW with an estimated cost of $2.0 billion (EUR1.4 billion) (Phase I), representing the initial phase of Enerjisas overall capital investment aimed at developing 5.0 GW in generation capacity by 2015. Turkey is facing a serious electricity shortage, expected as early as 2009, due to a combination of sustained economic growth and lack of adequate investments in the energy sector in recent years. To address the critical situation, the Government of Turkey (GOT) has embarked on implementing an on-going liberalization program of the Turkish electricity sector, including the preparation for the privatization of state-owned electricity distribution and generation assets. Consequently, several of the local private groups, many of which are already auto generators for their own industries, have begun expanding their power generating capacity, either independently or by the means of partnerships with experienced international power operators.   Despite the growing risk appetite from commercial lenders to finance power generation assets, the sector exhibits significant commercial risks and regulatory uncertainties during the transition period, impeding the availability of long-term financing for the merchant power projects, in the absence of long-term power purchase agreements (PPA).  The project will have a high development impact as it will:     - contribute to the development of a merchant power operator in Turkey where ongoing structural and regulatory changes have introduced additional uncertainty for prospective investors;     - finance the construction of power generation capacity of approximately 1.9 GW and meet incremental power demand in Turkey given the expected supply shortage in 2009;     - support the power sector reforms in Turkey as the plants built within the scope of the project will not benefit from any government guarantees contrary to the existing independent power producers. Moreover, the project is expected to demonstrate the viability of a liberalized power sector to other potential private entrants to the sector.  Due to its reliance on hydro and natural gas as energy sources, the project will contribute to reducing Turkeys reliance on coal, thereby reducing carbon intensity and improving security of supply.
Turkish Private Equity Fund The Fund, one of the first of its kind in Turkey, will invest in enterprises looking for expansion capital.  It will also seek acquisition opportunities for investment. The Fund is expected to create a diversified portfolio in industries driven by growth, exports, and deregulation.    Investing in a private equity fund in Turkey has long been a part of IFC''s financial markets strategy in Turkey, as a necessary complement to the loan funding that IFC has made available through commercial banks. The development impact of this project is particularly pronounced in Turkey where the availability of private equity has historically been limited. Currently Turkey is in the middle of a financial crisis, which has greatly reduced the bank credits available to real sector companies in Turkey.  Such an environment increases the importance of private equity funds in the economy.    IFC has been active in helping structure the Fund and in guiding the project sponsors.  In addition, IFC has introduced TVP to Advent.  IFC''s participation on the Advisory Board of the Fund will also provide significant comfort to potential investors, who value IFC''s experience in project finance, emerging market venture capital funds in Turkey, as well as its due diligence discipline.
YUCE OZEL EGITIM VE KULTUREL HIZMETLER A.S. Yuce Private Education and Cultural Services Inc. (Yuce or the company) is a leading provider of high school education and vocational services located in Ankara, Turkey.  Yuce is currently undertaking an $8.6 million investment program which will enable Yuce to achieve the following components:

-  expand its present enrollment capacity by 40% to 2,100 students through the ownership of the land and the building of 20 additional classrooms; 
-  build a library, a professional development center for teachers training and implement an alumni club; 
-  modernize existing classes through technological improvements; 
-  consolidate its quality curriculum through the completion of its accreditation process with International Education Authorities; 
-  upgrade its services in the area of educational software and systems development; and
-  refinance a small portion of YUCEs short-term debt contracted from the construction of the new campus. 

Project rationale:  The project would allow YUCE to build on its continuous growth in private education and equip a leading Turkish school with modern facilities and improve the quality of its curriculum.  Improving school development, the quality of teaching and introducing education technologies into schools are key components of the system of education reforms allowing Turkeys accession to the EU.  The project will also allow a leader in educational software development to further increase its business volume as a provider of education management systems in a growing market.  Finally, the project would assist the sponsor in reducing expensive short-term debt and hence high financial charges, with long-term funding that is more adequate for capital investments. 

YUCE was established in 1983 in the Kizilay district, downtown Ankara, initially as a private preparatory school, providing students enhanced skills to allow them to pass the national university entrance exam.  The passing results of its students was so exceptional that YUCE soon acquired a very good reputation and established in 1988 the first private Scientific High School in Turkey, with a major focus on basic sciences such as mathematics, physics, chemistry and biology.  Today, YUCE has a K-12 operation with over 1,500 students, the YUCE IT Academy which opened in November 2000 and offers long-term IT career courses and YUCE Information Systems for software development and certified professional computer programs.
Pasabahce-Schott Zwiesel Summary Of Project Information (SPI)       Project Name    Turkey-Pasabahce-Schott Zwiesel            Region    Europe        Sector       Project No008900   Projected Board DateApril 30, 1998   Company NamePasabahce-Schott Zwiesel   Technical Partner and/or Major Shareholders    	The majority shareholders on a 50:50 basis are Pasabahce A.S. from Turkey and Schott Zwiesel from Germany.    Project Cost Including proposed IFC investment    	Total project cost is about DM 114 million.  IFC''s proposed investment is a loan of up to DM 30 million for its own account and up to DM 30 million for the account of participant banks.    Location of project and Description of site    	The project will be located in an industrial site near Eskisehir, about 200 kilometers from Istanbul.    Description of Company and Purpose of Project    	The Pasabahce-Schott Zwiesel joint venture is a greenfield project which will consist of a plant with a total furnace capacity of 36,000 net tons/year and 114 million glassware pieces per year.  The project will exclusively serve the hotel-restaurant-catering (Horeca) business outside of Turkey and all of earnings will be from exports.  The Company will employ 470 people, including 246 workers.       Environmental Category and Issues    	This is a category B project according to IFCs environmental review procedure.  The environmental issues associated with this project include: air emissions, treatment of process and domestic wastewaters, and solid waste disposal.  Health and safety issues include fire prevention and protection, emergency response and employee exposure to noise, dust and chemical substances.  The sponsors will install air pollution controls in all emission points, wastewater and discharges will be treated, and adequate health and safety measures will be implemented.  Based on its review, IFC concludes that the project will be designed to meet World Bank guidelines.        The  is expected to be available on March 31, 1998 from the Public Information Center.       Date SPI sent to PIC     March 30, 1998      This Summary of Project Information is prepared and distributed to the public in advance of consideration of the proposed transaction by the Corporations Board of Directors.  It is provided for the purpose of enhancing the transparency of IFCs activities and should not be construed as presuming the outcome of IFC Board consideration.    For Additional Information contact:  Corporate Relations Unit -   telephone: (202) 473-7711   facsimile: (202) 974-4384    \\StreetTalk\Div Disk@EXTIN@worldbank\FRMIFC\trs08900.doc   March 30, 1998 5:12 PM  Environmental documents for this project are available at http://www.ifc.org and from the World Bank InfoShop (http://www.worldbank.org/html/pic/aboutinfo.html).
Eren Expansion Modern Karton Sanayi ve Ticaret A.S. (Modern Karton), the main operating company of the Eren Groups paper and packaging business, was established in 1974.  It manufactures test liner and fluting paper using wastepaper at its factory located in Corlu, located 100 km west of Istanbul.  With a 300,000 metric tons per annum capacity, Modern Karton is Turkeys largest plant in the corrugated cardboard sector.   The project consists of a $365 million expansion program of Eren Holdings paper and packaging businesses in Corlu.  The project includes:     -  a capacity increase of 300,000 metric tons per annum to the paper mill (i.e. installation of a new paper making machine);  -  an investment in their packaging and paper recycling businesses; and  -  an expansion of the associated cogeneration plant (for steam and power) and wastewater treatment plant.
OzU II Project Ozyegin University (OzU or the University) is a private foundation university in Turkey, founded in 2007, and started education in 2008-2009 academic year with 210 students admitted to its Undergraduate Business Administration Program. Today, the University is approaching a student body of 3,000 students in its 5 faculties, 2 vocational schools and 2 graduate schools. The vision of the University is to be a relatively financially accessible university with entrepreneurial and research focus.   Until 2011, the University operated out of a rented building in Altunizade, Istanbul. In 2010, the University embarked on a project (the Project) to build a state-of-art campus in Cekmekoy, Istanbul (the Campus). The Campus is designed by international architects, and its first phase, which was completed in summer of 2011, has received the internationally acclaimed LEED certificate granted to environmentally friendly buildings. The University has started education in the Campus in 2011-2012 academic year, in addition to its existing site in Altunizade, Istanbul.   The initial investment into the campus, which included two academic buildings, one prep school building, three student dorms, energy distribution center,  student center and sports facilities, was partially financed by IFC through US$42.5 million loan facilities. The proposed project will finance the final investments in the Campus, which includes an additional academic building and two additional dorms and which will allow the university to consolidate operations under one campus. The university is in the process of obtaining LEED certification for most of its buildings upon completion. - Increase access to higher education, including for students outside of Istanbul through its dormitories  - Provide support for entrepreneurial projects of students, that are likely to create SMEs of the future. - Demonstration effect through establishment of a "green" campus. - Create a center of excellence for computational finance, entrepreneurship and energy efficiency through its research centers.
Asyaport Extension The Project is a follow-on investment of up to US$12 million A Loan in Asyaport Liman Isletmeleri A.S. (the Terminal, Company or Asyaport), an existing IFC client.  In 2013, IFC committed a 10-year US$75 million A loan along with its co-financiers, EBRD and IsBank, for greenfield construction of the Terminal.  Asyaport has been operational since July 2015. The Terminal can handle vessels of up to 16,000 twenty foot equivalent units (TEUs) in capacity and has a nominal capacity of 1.9 million TEUs per annum.  The Company now seeks an additional financing of US$12 million from IFC, along with another US$12 million from EBRD, for the purchase of new equipment for the Terminal to reach full design capacity and increase efficiency (the Project). The Project enhances access and quality of port services in Turkey and other countries in the Black Sea region, by increasing Asyaport's capacity and operational efficiency, alleviating imminent capacity bottlenecks and supporting growth in container cargo volumes. These improvements benefit the port's customers including transshipment traffic in the Black Sea region and domestic container traffic from industrial zones located in the Tekirdag region in Turkey. IFC expects the Terminal's expanded operations to also have economy-wide effects (indirect and induced growth and employment) in beneficiary markets. At a regional market level, this investment contributes to deepening connectivity of the Black Sea region to world markets, by strengthening transshipment capabilities on a major international trading route.
Beko Project Beko Elektronik A.S., established in 1966, is a domestic market leader and major OEM and private label manufacturer in consumer electronic products. Beko''s product range focuses on conventional televisions, but also includes flat screen TVs, set top boxes, PCs, monitors, DVDs, cash registers, and audio equipment.  The US$95 million proposed project consists of (i) a phased capital investment program of US$30 million, aimed primarily at a 100% expansion of TV manufacturing capacity, in line with long-term OEM export contracts recently secured; (ii) increased working capital requirements of approximately US$50 million, and (iii) US$15 million in short-term debt restructuring in order to improve the overall debt profile of the company.       Development Impacts:      Sustainable Employment    - Support of the company''s expansion efforts may serve to counteract the employment pressures observed during the deep economic contraction of 2001.  As a result of the expansion, and in spite of the company''s continuing focus on improved productivity, total headcount is expected to increase from 1,828 to 2,817.  The company further supports indirect labor employment through forward and backward linkages, related to outsourced components, transport, and sales.  Beko outsources approximately 30% of its purchases from the domestic market including SMEs, while domestically supporting more than 4,500 dealers, and 350 service centers.     Higher Export Earnings    -   Since the expanded capacity will be directed to exports, IFC will help to increase the country''s foreign currency earnings and thereby recover from the current economic turmoil.          Electronics Industry    - Both Beko''s long-term relationship with domestic suppliers and "learning by doing" experience supports the continued emergence of an electronic components industry, which, in turn, serves to strengthen the growth of an overall electronics industry in Turkey.  In recent years, due to the solid growth of electronics manufacturers, the industry has increasingly invested not only in capacity, but also in R&D to improve the overall quality and design of new products.  In line with the development of Turkey as a technology-related hub, the company''s plans to expand into the engineering contract business could be expected to have important spillover effects related to R&D, new product development initiatives, and production technologies across the wider manufacturing sector.     IFC Role   :     Mobilization of long-term capital under the IFC B Loan program - Despite its export orientation and success to date, Beko has been largely unable to attract long-term funding at reasonable terms.  The proposed B Loan aims to provide reasonably priced long-term financing, which is important not only for ensuring profitability in a highly competitive global industry, but also for strengthening the company''s position vis-a-vis its key customers who value long-term financial stability.
Atateks Project Atateks Tekstil Isletmeleri Sanayi ve Ticaret, A.S. (Atateks or the company) is a leading Turkish manufacturer of technical yarn, knitted fabrics and seamless wear.  The company is undertaking a three year investment program to: 

- modernize of the companys yarn and knitted fabrics facilities in Turkey for $10.5 million;
- establish a new seamless wear operation in Egypt for $7 million; and 
- re-profile debt of up to $25 million.

Atateks total financial requirements in this period are currently estimated at $42.5 million. The project will have the following positive developmental impacts:  

South-South Expansion: 

The project will allow Atateks to set up operations in Egypt, which is in line with IFCs south-south strategy and the sector strategy of expanding textile manufacturing capacities in cost competitive environments.  Expanding into Egypt will reduce the companys manufacturing costs as well as help Atateks improve its overall competitiveness and become a leading regional exporter.  

Employment: 

The Project will create about 400 new jobs, and help ensure the sustainability of 1,800 existing jobs in Turkey and Jordan thus benefiting the local economies of three countries.

- Transfer of Technology and Know-How:  

The project will necessitate the training of the companys Egyptian workforce in some of the latest state-of-the-art textile technology.

Establishing a Positive Example of Good Labor Practices:  

The project will establish a good practice example of sound, externally audited labor practices in Egypt.