Project detail - AK LEASE

AK LEASE

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Who is our client

AK Lease is the 5th leasing company in Turkey in terms of market share, and it is a subsidiary of AK Bank, the 7th largest bank in the country.

Funding objective

AK Lease needs additional funding to support its growth in the Renewable Energy and Energy Efficiency sector. With this facility fully earmarked towards Renewable Energy and Energy Efficiency, FMO will contribute to further develop AK Lease's green portfolio.

Why we fund this project

AK Lease needs long-term financing to support its Renewable Energy and Energy Efficiency strategy.

Environmental and social rationale

The project has been categorised as Category B in accordance with FMO’s Sustainability Policy. The Project’s activities are deemed to have potential limited adverse environmental and social risks and/or impacts. As part of the Project, AK Lease will be required to apply the EDFI Exclusion List and Turkey E&S laws and regulations.

More investments

Date Total FMO financing
12/19/2017 USD 10.00 MLN
12/19/2017 EUR 32.50 MLN
Website client
https://www.aklease.com/en/default.aspx
Region
Europe & Central Asia
Country
Turkey
Sector
Financial Institutions
Signing date
12/4/2020
Total FMO financing
USD 25.00 MLN
Fund
FMO
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