EFSE partners with Yapı Kredi Leasing to support MSMEs in priority development regions of Turkey

The European Fund for Southeast Europe (EFSE) is supporting the leasing business for micro, small and medium enterprise (MSME) of Turkish Yapi Kredi Leasing with a EUR 20 million senior loan. 50% of this facility will be earmarked to the priority development regions in Turkey, thus facilitating the economic development in the country’s as yet underserved areas.

Yapı Kredi Leasing, Turkey’s leading leasing company in terms of new business volume, is the 70th partner lending institution (PLI) to join the EFSE and one of five PLIs in the country. Building on the strengths of its parent, Yapı Kredi Bank, notably a branch network with 1,000 branches throughout Turkey, Yapı Kredi Leasing is ideally positioned to offer leasing finance solutions for construction equipment, manufacturing equipment and textile machinery to local MSMEs.

"Yapı Kredi Leasing is an exceptionally strong partner for growing the leasing opportunity with the EFSE’s end-borrower target group,” says Monika Beck, Chairperson of the Board of EFSE. "We are therefore pleased to welcome them into our team of partner lending institutions. With its wide coverage, Yapı Kredi Leasing is a perfect match to increase the Fund’s outreach to currently underserved MSMEs in Turkey.”

"We believe that the cooperation with the EFSE will contribute to our support of the Turkish economy. As the sector leader we will utilise these financial resources to help grow MSMEs, the backbone of the Turkish economy, across the country where they are needed most, thanks to our wide distribution channel,” says Özgür Maraş, CEO of Yapı Kredi Leasing.

About the European Fund for Southeast Europe

The European Fund for Southeast Europe (EFSE) was initiated by KfW Development Bank (KfW) with the financial support of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the European Commission. It aims to foster economic development and prosperity in Albania, Armenia, Azerbaijan, Belarus, Bosnia and Herzegovina, Bulgaria, Croatia, former Yugoslav Republic of Macedonia, Kosovo, Georgia, Moldova, Montenegro, Romania, Serbia, Ukraine and Turkey. As access to finance is a key success factor in developing the micro, small and medium enterprise segments, the EFSE focuses on assisting local financial sectors in strengthening their ability to ensure adequate and sustainable financing. The funding the EFSE provides as long-term finance primarily for micro and small enterprises (MSEs) – but also for private households in the form of home improvement loans – is channelled to these loan customers through local partner lending institutions. Supporting the EFSE’s investment activities is the EFSE Development Facility, which provides partner lending institutions with technical assistance, consulting and training services to build operational capacities and professional management.

Initiated by KfW Development Bank (KfW) on 15 December 2005 from four multi-donor programs under its management, the EFSE is the first public-private partnership of its kind and the first privately managed fund in development finance to leverage private funding for MSE finance in the target region. Capital is provided by donor agencies, international financial institutions and private institutional investors, including the German Federal Ministry for Economic Cooperation and Development (BMZ), the European Commission (EC), the Government of Albania, Small and Medium Business Credit Support CJSC (SMBCS), a subsidiary of the Central Bank of Armenia, the Development Bank of Austria (Oesterreichische Entwicklungsbank - OeEB), the Swiss Agency for Development and Cooperation (SDC), the Danish International Development Agency (Danida), KfW as Lead Investor, the International Finance Corporation (IFC), the Netherlands Finance Company (FMO), the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB), Sal. Oppenheim and Deutsche Bank.

Oppenheim Asset Management Services S.à r.l., Luxembourg, and Finance in Motion GmbH, Germany, are, respectively, the EFSE’s Fund Manager and Fund Advisor.

About Yapı Kredi Leasing

Yapı Kredi Leasing, established in 1987, is Turkey’s largest leasing company by asset size and equity capital. As the market leader for the past 5 years, Yapı Kredi Leasing has established itself as a key driver of the leasing business in Turkey. Yapı Kredi Leasing operates predominantly in Turkey and is focused exclusively on providing leasing finance.

Yapı Kredi Leasing serves corporate, commercial and SME customers in various sectors from 12 branches located in different regions and from the company’s headquarters in Istanbul. Yapı Kredi Leasing is a board member of the Turkish Association of Financial Institutions.
Media contact EFSE    
Media Relations
Merle Römer
Manager Communications and Events
Tel: +49 (0)69 9778 7650-171

Media contact Yapi Kredi Leasing
Artı Pr
Tel : +90 212 347 03 30

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Interested in learning more about how the fund works, or seeking partnership opportunities? Contact an EFSE representative today.


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