AK LEASE
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