Inclusive Access to Finance

Development Objective

The PDO is to improve access to longer-term finance for (i) women-inclusive enterprises and (ii) enterprises in less developed sub-regions affected by SuTP influx.

Key Details

Project Details

Project ID
P163225
Status
Closed
Team Leader
Birgitte Berg
Borrower 2
TÜRK?YE SINA? KALKINMA BANKASI A.?. (TSKB)

Country
Turkiye
Disclosure Date
December 29, 2017
Approval Date
(as of board presentation)
May 22, 2018
Effective Date
December 21, 2018

Total Project Cost 1
US$ 400.00 million
Implementing Agency
TÜRK?YE SINA? KALKINMA BANKASI A.?. (TSKB)
Region
Europe and Central Asia
Fiscal Year 3
2018

Commitment Amount
US$ 400.00 million
Environmental Category
F
Environmental and Social Risk
Not Applicable
Closing Date
June 30, 2023

Consultant Services required
No
Last Stage Reached
BANK APPROVED
Last Update Date
December 19, 2023

Notes
1. Total project cost includes funding from World Bank and non-bank sources in US$ millions. Active and Closed projects show current commitments. Proposed (pipeline) and dropped projects show the forecast amount. The commitment amount for projects in the pipeline is indicative and may be modified during the project preparation.
2. Borrower refers to the Borrower of a Loan or Recipient of a Grant.
3. ”Fiscal Year” is the fiscal year in which the project was approved (or dropped if the status is dropped). The World Bank's fiscal year is from July 1 - June 30. For example, a fiscal year of 1996 corresponds to July 1, 1995 - June 30, 1996.

Sectors

Themes

FY17 - Environment and Natural Resource Management

FY17 - Climate change5%
- FY17 - Mitigation5%

FY17 - Finance

FY17 - Financial Infrastructure and Access100%
- FY17 - MSME Finance100%

FY17 - Human Development and Gender

FY17 - Gender100%

FY17 - Private Sector Development

FY17 - Enterprise Development100%
- FY17 - MSME Development100%
FY17 - Jobs100%
- FY17 - Job Creation100%

FY17 - Social Development and Protection

FY17 - Fragility, Conflict and Violence100%
- FY17 - Forced Displacement100%

Project Map

Interactive Map

Finances

Financing Plan (US$ Millions)

Financier	Commitments
International Bank for Reconstruction and Development	400.00

Total Project Financing (US$ Millions)

Product Line	IBRD/IDA
IBRD Commitment	400.00
IDA Commitment	N/A
IBRD + IDA Commitment	400.00

Lending Instrument
Grant Amount	N/A
Total Project Cost**	400.00

Summary Status of World Bank Financing (US$ Millions) as of March 31, 2025

No data available.

Detailed Financial Activity as of March 31, 2025

Download:

Period	Financier	Transaction Type	Amount (US$)
Jan 16, 2019	IBRD-88600	Loan Disb	75,000,000.00
Dec 21, 2018	IBRD-88600	Loan Disb	1,000,000.00
Dec 21, 2018	IBRD-88600	Fee Charges	1,000,000.00
Apr 15, 2019	IBRD-88600	Int Charges	665,797.25
Apr 15, 2019	IBRD-88600	Int Charges	643,904.06
Oct 15, 2019	IBRD-88600	Int Charges	406,109.60
Oct 15, 2019	IBRD-88600	Int Charges	1,363,756.60
Dec 27, 2019	IBRD-88600	Loan Disb	23,487,252.00
Dec 27, 2019	IBRD-88600	Loan Disb	26,512,748.00
Apr 15, 2020	IBRD-88600	Int Charges	367,899.97
Apr 15, 2020	IBRD-88600	Int Charges	1,547,248.90
May 21, 2020	IBRD-88600	Loan Disb	822,336.00
May 26, 2020	IBRD-88600	Loan Disb	7,593,248.00
Jun 25, 2020	IBRD-88600	Loan Disb	5,493,482.00
Jun 25, 2020	IBRD-88600	Loan Disb	62,814,760.00
Sep 28, 2020	IBRD-88600	Loan Disb	13,291,802.00
Oct 15, 2020	IBRD-88600	Int Charges	280,508.12
Oct 15, 2020	IBRD-88600	Int Charges	1,879,006.00
Dec 22, 2020	IBRD-88600	Loan Disb	14,099,699.00
Mar 30, 2021	IBRD-88600	Loan Disb	27,228,264.00
May 28, 2021	IBRD-88600	Loan Disb	10,760,562.00
Apr 15, 2021	IBRD-88600	Int Charges	1,307,237.20
Apr 15, 2021	IBRD-88600	Int Charges	1,543.46
Apr 15, 2021	IBRD-88600	Int Charges	11,763.11
Apr 15, 2021	IBRD-88600	Int Charges	215,091.19
Oct 15, 2021	IBRD-88600	Int Charges	10,932.75
Oct 15, 2021	IBRD-88600	Int Charges	163,830.52
Oct 15, 2021	IBRD-88600	Int Charges	1,552,511.40
Oct 15, 2021	IBRD-88600	Int Charges	2,983.91
Sep 30, 2021	IBRD-88600	Loan Disb	45,359,360.00
Mar 31, 2022	IBRD-88600	Loan Disb	19,549,076.00
Apr 15, 2022	IBRD-88600	Int Charges	17,074.48
Apr 15, 2022	IBRD-88600	Int Charges	69,232.52
Apr 15, 2022	IBRD-88600	Int Charges	1,889,297.50
Apr 15, 2022	IBRD-88600	Int Charges	4,660.21
Dec 29, 2021	IBRD-88600	Loan Disb	49,985,592.00
Oct 18, 2022	IBRD-88600	Loan Disb	10,992,650.00
Oct 15, 2022	IBRD-88600	Int Charges	6,870.06
Oct 15, 2022	IBRD-88600	Int Charges	21,310.47
Oct 15, 2022	IBRD-88600	Int Charges	5,658,844.00
Oct 15, 2022	IBRD-88600	Int Charges	2,008.47
Dec 20, 2022	IBRD-88600	Loan Disb	6,009,165.00
Apr 15, 2023	IBRD-88600	Int Charges	10,231,290.00
Apr 15, 2023	IBRD-88600	Int Charges	2,942.34
Apr 15, 2023	IBRD-88600	Int Charges	391,713.28
Oct 15, 2023	IBRD-88600	Int Charges	12,561,518.00
Oct 15, 2023	IBRD-88600	Int Charges	210,789.98
Apr 15, 2024	IBRD-88600	Int Charges	138,740.94
Apr 15, 2024	IBRD-88600	Int Charges	13,613,061.00
May 22, 2018	IBRD-88600	Loan Commitment	400,000,000.00

Footnotes

Ratings

IMPLEMENTATION RATINGS

Name	Review	Date
Project Management	Satisfactory	2023-04-12
Procurement	Satisfactory	2023-04-12
Progress towards achievement of PDO	Satisfactory	2023-04-12
Financial Management	Satisfactory	2023-04-12
Monitoring and Evaluation	Satisfactory	2023-04-12
Overall Implementation Progress (IP)	Satisfactory	2023-04-12

COMPLETION RATINGS

INDICATOR	IMPLEMENTATION COMPLETION & RESULTS REPORT: 12-21-2023
Outcomes	Substantial
Risk to Development Outcome
Bank Performance	Substantial
Borrower Performance
Government Performance
Implementing Agency

INDEPENDENT EVALUATION RATINGS

INDICATOR	ICR REVIEW: 05-30-2024	PROJECT PERFORMANCE ASSESSMENT REPORT:
Outcome Rating	Satisfactory	N/a
Risk To Development Outcome		N/a
Bank Performance	Satisfactory	N/a
Borrower Performance		N/a
Government Performance		N/a
Implementing Agency		N/a
Icr Quality	Substantial	N/a
M&e Quality	Substantial	N/a

Results Framework

PROJECT DEVELOPMENT OBJECTIVE INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Ratio of the average maturity of SME sub-financing under the project, over the average maturity of the PFIs SME portfolio not financed under the project. Value 0 >1 >1
Date May 31, 2018 June 30, 2023
Comment

Ratio of the average maturity of LE sub-financing under the project, over the average maturity of the Borrower's LE portfolio not financed under the project.	Value	0	>1	>1
	Date	May 31, 2018	June 30, 2023
	Comment

Volume of Bank support (cumulative, US$ million) Value 0.00 400.00 150.00
Date May 31, 2018 June 30, 2023
Comment

INTERMEDIATE RESULTS INDICATORS

INDICATOR		BASELINE	CURRENT	TARGET

Number of PFIs under the project (cumulative) Value 0.00 5.00 4.00
Date May 31, 2018 June 30, 2023
Comment
Number of SME beneficiaries financed under the project (cumulative) Value 0.00 240.00 120.00
Date May 31, 2018 June 30, 2023
Comment
Number of LE beneficiaries financed under the project (cumulative) Value 0.00 40.00 20.00
Date May 31, 2018 June 30, 2023
Comment
Number of women-inclusive beneficiary enterprises financed under the project (cumulative) Value 0.00 70.00 25.00
Date May 31, 2018 June 30, 2023
Comment
Based on Core Indicator: Portfolio Quality: Portfolio at risk (%) Value n/a n/a n/a
Date May 31, 2018 June 30, 2023
Comment
Percent of sub-finance financing beneficiary enterprise sub-projects in the least developed sub-regions (Cumulative) Value 0 7.5 4
Date May 31, 2018 June 30, 2023
Comment
Based on Core Indicator: Financial Sustainability: Return on Assets (%) Value n/a n/a n/a
Date May 31, 2018 June 30, 2023
Comment
Number of enterprises assessed through Project Gender Toolkit (Cumulative) Value 0.00 50.00 20.00
Date May 31, 2018 June 30, 2023
Comment
Based on Core Indicator: Financial Sustainability: Return on Equity (%) Value n/a n/a n/a
Date May 31, 2018 June 30, 2023
Comment
Number of beneficiary enterprises that completed implementation of a gender action plan (Cumulative) Value 0.00 15.00 6.00
Date May 31, 2018 June 30, 2023
Comment
Percentage point difference between the total employment growth in beneficiary enterprises under the Project and employment growth in the respective sectors Value 0 >0
Date May 31, 2018 June 30, 2023
Comment
Compliance with prudential regulation Value n/a n/a n/a
Date May 31, 2018 June 30, 2023
Comment
Percentage point difference between female employment growth in beneficiary enterprises and female employment growth in the respective sectors Value 0 >0 >0
Date May 31, 2018 June 30, 2023
Comment

Percentage point difference between employment growth in beneficiary enterprises located in less developed regions and employment growth in the respective sectors	Value	0	>0	>0
	Date	May 31, 2018	June 30, 2023
	Comment

Based on Core Indicator: Outstanding MSME finance portfolio (USD million) Value n/a n/a n/a
Date May 31, 2018 June 30, 2023
Comment
Based on Core Indicator: Number of active MSME finance accounts (not cumulative) Value n/a n/a n/a
Date May 31, 2018 June 30, 2023
Comment
Citizen Engagement: SMEs and LEs that feel project sub-finance reflected their needs Value 0 n/a value
Date May 31, 2018 June 30, 2023
Comment

Volume of Bank support (cumulative, US$ million)	Value	0.00	400.00	150.00
	Date	May 31, 2018	June 30, 2023
	Comment

Compliance with prudential regulation	Value	n/a	n/a	n/a
	Date	May 31, 2018	June 30, 2023
	Comment

Citizen Engagement: SMEs and LEs that feel project sub-finance reflected their needs	Value	0	n/a	value
	Date	May 31, 2018	June 30, 2023
	Comment