Project detail - QNB FINANS FINANSAL KIRALAMA A.S.

Who is our client

QNB Finansleasing, a subsidiary of QNB Finansbank. QNB Finansleasing is one of the leading financial leasing companies in Turkey, with a growing market share, and a focus on providing access to finance to SME via its branch network throughout Turkey. Since the acquisition of Finansbank by Qatar National Bank (QNB), the shareholder structure improved, and the rating of QNB Finansbank has been upgraded. Due to its diversified branch network, QNB Finansbank and QNB Finansleasing have good access to SMEs.

Funding objective

FMO's Financing will be 100% used for Renewable Energy/Energy efficiency leasing contracts (100% green label). Most of the financing will be used for small scale solar panels, which offers an interesting market potential for leasing companies.

Why we fund this project

Through this project FMO indirectly contributes to Turkey's renewable energy targets. With this use of funds FMO contributes to GHG avoidance via its contribution to the energy transition from traditional sources to renewable sources. At the same time FMO offers long-term financing in local currency (TRY), which meets the funding requirements of such activities. It prevents foreign currency mismatches on FMO's clients, or on end client level.

Environmental and social rationale

The client has been categorized as Category B in accordance with FMO’s Sustainability Policy. The client is a leasing company and it’s activities are deemed to have potential limited adverse environmental and social risks and/or impacts. As part of the transaction, Finans Leasing will be required to apply the EDFI Exclusion List and Turkish E&S laws and regulations.

More investments

Date	Total FMO financing
8/27/2021	EUR 48.50 MLN
4/6/2017	USD 35.00 MLN