Project detail - AK LEASE

AK LEASE

Status: Approved investment
Back to map

Why disclosure?

FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more

In case of questions

In case of questions, please contact us at disclosure@fmo.nl

Disclaimer

The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

Ak Finansal Kiralama A.Ş. (“Aklease”), the leasing subsidiary of Akbank T.A.S., one of the largest private banks in Turkey. Aklease provides financial support to investors varying from corporate segment to SMEs. Along with financing machinery and equipment as the main investment item in Turkey, Aklease is able to offer leasing opportunity to its customers in renewable energy and sizable infrastructure investments.

What is our funding objective?

The proceeds of the syndicated loan will be used to support renewable energy & energy efficiency projects, Small and Medium-Sized companies (SME’s) and international trade finance projects.

Why do we fund this investment?

FMO arranged a syndicated loan agreement for Aklease, bringing a strong group of investors to Aklease. It will enable Aklease to continue its growth in renewable energy projects and helps support job creation in the country through SME's.

What is the Environmental and Social categorization rationale?

With this transaction FMO catalyzed USD 49 mln for onlending to renewable energy & energy efficiency projects. The funds will mainly be used for solar and wind energy projects.

More investments

Date Total FMO financing
10/24/2022 EUR 25.00 MLN
12/4/2020 USD 25.00 MLN
12/19/2017 USD 10.00 MLN
Website customer/investment
https://www.aklease.com/en/default.aspx
Region
Europe & Central Asia
Country
Türkiye
Sector
Financial Institutions
Effective date
12/19/2017
Total FMO financing
EUR 32.50 MLN
Funding
FMO NV
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
B