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GREATER ANATOLIA GUARANTEE FACILITY Presentation by the European Investment Bank Group 18 May 2011, Ankara This project is co-financed by the European.

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Presentation on theme: "GREATER ANATOLIA GUARANTEE FACILITY Presentation by the European Investment Bank Group 18 May 2011, Ankara This project is co-financed by the European."— Presentation transcript:

1 GREATER ANATOLIA GUARANTEE FACILITY Presentation by the European Investment Bank Group 18 May 2011, Ankara This project is co-financed by the European Union and the Republic of Turkey

2 11 April 2011 Agenda 1.Background, Structure and Targets 2.Implementation: Q1 Results and Current Status

3 11 April 2011 Agenda 1.Background, Structure and Targets 2.Implementation: Q1 Results and Current Status

4 11 April 2011 Problem statement: disparity in regional development and access to finance of SMEs 25% of SMEs in the country Representing 22% of employment generated by SMEs Receiving only 10% of SME lending NUTS II Regions having an income per capita above the 75% of Turkish national average 15 Growth Centres NUTS II Regions having an income per capita below the 75% of Turkish national average

5 11 April 2011 GAGF as a means of addressing the problem MICRO-CREDIT COUNTER GUARANTEE €5m GREATER ANATOLIA GUARANTEE FACILITY SME CREDIT GUARANTEE €25m CAPACITY BUILDING & PROMOTION €2m EIB Greater Anatolia SME Loan Programme €250m A holistic programme designed for credit enhancement for SMEs and microenterprises in the Target Region –Micro-credit guarantees: through counter- guarantee provided to KGF –SME loan guarantees: through portfolio guarantees provided to five banks effectively linked to EIB lending –Capacity building for key actors in implementation

6 11 April 2011 Pillar 1: Micro-Credit Guarantees Target EUR 37.5m / TRY 74.6m Credit Volume 1,500 Micro-enterprise EIF KGF All banks in the Target Region Counter- guarantee Guarantee Micro-enterprise Micro-enterprise

7 11 April 2011 Pillar 2: SME Loan Guarantees Target 2,500 SMEs EIF Guarantee SME Akbank Denizbank Halkbank Yapı Kredi Vakıfbank EIB Loan EUR 250 million EIB Loan + EUR 250 million Banks’ Resources = EUR 500 million Credit Volume

8 11 April 2011 Pillar 3: Capacity Building & Promotion Capacity building designed for key implementing partners to ensure effectiveness and sustainability –KGF, five banks and DGIT as end-recipient Promotion designed for increasing SMEs awareness of the Facility and visibility of stakeholders –EU, CFCU, MoIT, EIB Group, KGF, five banks

9 11 April 2011 Major Milestones Official Launch of the Facility16 July 2010 Signature of Agreements22 October 2010 Completion of Internal Procedures by FIsJune 2011 Kick-Start Promotion of the Facility KGF Needs Assessment Results June 2011 September 2011

10 11 April 2011 Agenda 1.Background, Structure and Targets 2.Implementation: Q1 Results and Current Status

11 11 April Q1 Results Total Volume: TRY million (~ EUR 46.5 million) Total Number of Loans: 1022 Total Number of SMEs: 978

12 11 April 2011 Volume – Regional Breakdown Credit Volume / Kredi Hacmi (TRY 102 million / EUR 46.5 million)

13 11 April 2011 Number of Loans – Regional Breakdown Number of Loans / Kredi Sayısı (1088)

14 11 April 2011 Number of SMEs – Regional Breakdown Number of SMEs / KOBI Sayısı (1044)

15 11 April 2011 Current Status (as of 12 May) Total Volume: TRY million (~ EUR 80.7 million) Total Number of Loans: 1875 Main value-added concentrated on reduced collateral and interest rate

16 11 April 2011 Promotion Recruitment of a PR agency being completed Presentation to Gaziantep and Samsun Chambers of Commerce in April with participation of RDAs and other SME networks –GAGF is well-received and cooperation is ensured Presentation to SMEs to take place in second half of June in Gaziantep, Samsun and Kayseri (tbc)

17 11 April 2011 Take Aways Only 5 months into implementation Pillar 2 = Star of the Facility Results are visible  High Expectations Pillar 1 & 3 less visible, but as important Reconvene in 12 months time

18 11 April 2011 Questions? Contacts: Jose Romano EIF Head of Turkey & iVCi Thank you Özlem Çotuk EIF Project Manager

19 11 April 2011 Back-up slides

20 11 April 2011 Sponsors and Partners of the Facility European Union and Republic of Turkey co-financing EUR 32m of funds (IPA+National Contribution) European Investment Bank providing EUR 250m lending and long-standing relationship with Turkish banks European Investment Fund managing the Facility and bringing expertise on risk-sharing

21 11 April 2011 Terms for the Micro-Credits Max. Loan AmountEUR 25,000 / up to TRY 50,000 Min. Loan Maturity6 months Max. Loan Maturity3 years CurrencyTRY Loan TypeInvestment or working capital BeneficiariesMicro-enterprises (EU definition*) established or having majority operations in the Target Region *Having less than 10 employees and annual turnover/total assets < EUR 2m

22 11 April 2011 Terms for the SME Loan Max. Loan AmountEUR 500,000 / up to TRY 1,000,000 Min. Loan Maturity2 years Max. Loan Maturity5 years CurrencyTRY or EUR Loan TypeInvestment or working capital BeneficiariesSMEs (EU definition*) established or having majority operations in the Target Region *Having less than 250 employees and annual turnover < EUR 50m or / total assets < EUR 43m


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