Download - GREATER ANATOLIA GUARANTEE FACILITY
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
11 April 2011
Agenda
1. Background, Structure and Targets
2. Implementation:
Q1 Results and Current Status
11 April 2011
Agenda
1. Background, Structure and Targets
2. Implementation:
Q1 Results and Current Status
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
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GAGF as a means of addressing the problem
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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
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Pillar 1: Micro-Credit Guarantees
TargetEUR 37.5m / TRY 74.6m Credit Volume
1,500 Micro-enterprise
EIF KGFAll banks
in the Target Region
Counter-guarantee
Guarantee
Micro-enterprise
...............
...............
Micro-enterprise
Micro-enterprise
Micro-enterprise
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Pillar 2: SME Loan Guarantees
Target
2,500 SMEs
EIFGuarantee
SME
SME
SME
SME
...............
...............
Akbank
Denizbank
Halkbank
Yapı Kredi
Vakıfbank
EIBLoan
EUR 250 millionEIB Loan
+ EUR 250 millionBanks’ Resources
= EUR 500 millionCredit Volume
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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
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Major Milestones
Official Launch of the Facility 16 July 2010
Signature of Agreements 22 October 2010
Completion of Internal Procedures by FIs June 2011
Kick-Start Promotion of the Facility
KGF Needs Assessment Results
June 2011
September 2011
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Agenda
1. Background, Structure and Targets
2. Implementation:
Q1 Results and Current Status
11 April 2011
2011 Q1 Results
• Total Volume: TRY 102.2 million
(~ EUR 46.5 million)
• Total Number of Loans: 1022
• Total Number of SMEs: 978
11 April 2011
Volume – Regional Breakdown
TR-907%
TR-A24%
TR-C310%
TR-C210%
TR-C18%
TR-B23%
TR-B18%
TR-A13%
TR-8317%
TR-826%
TR-711%
TR-6313%
TR-A1 Erzurum, Erzincan, Bayburt
TR-A2 Agri, Kars, Igdir, Ardahan
TR-B1 Malatya, Elazig, Bingol, Tunceli
TR-B2 Van, Mus, Bitlis, Hakkari
TR-C1 Gaziantep, Adiyaman, Kilis
TR-C2 Sanliurfa, Diyarbakir
TR-C3 Mardin, Batman, Sirnak, Siirt
TR-63 Hatay, Kahramanmaras, Osmaniye
TR-72 Kayseri, Sivas, Yozgat
TR-82 Kastamonu, Cankiri, Sinop
TR-83 Samsun, Tokat, Corum, Amasya
TR-90 Trabzon, Ordu, Giresun, Rize,Artvin, Gumushane
Credit Volume / Kredi Hacmi(TRY 102 million / EUR 46.5 million)
11 April 2011
Number of Loans – Regional Breakdown
Number of Loans / Kredi Sayısı(1088)
TR-90 9%
TR-A1 4%
TR-A2 5%
TR-C1 9%
TR-B2 2%
TR-B1 6%
TR-C2 6%
TR-C3 8%
TR-63 13%
TR-7212%
TR-82 5%
TR-8321%
TR-A1 Erzurum, Erzincan, Bayburt
TR-A2 Agri, Kars, Igdir, Ardahan
TR-B1 Malatya, Elazig, Bingol, Tunceli
TR-B2 Van, Mus, Bitlis, Hakkari
TR-C1 Gaziantep, Adiyaman, Kilis
TR-C2 Sanliurfa, Diyarbakir
TR-C3 Mardin, Batman, Sirnak, Siirt
TR-63 Hatay, Kahramanmaras, Osmaniye
TR-72 Kayseri, Sivas, Yozgat
TR-82 Kastamonu, Cankiri, Sinop
TR-83 Samsun, Tokat, Corum, Amasya
TR-90 Trabzon, Ordu, Giresun, Rize, Artvin,Gumushane
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Number of SMEs – Regional Breakdown
Number of SMEs / KOBI Sayısı(1044)
TR-90 9%
TR-A13%
TR-A2 5%
TR-B1 6%
TR-B2 2%
TR-C1 9%
TR-C2 6%
TR-C3 8%
TR-63 14%
TR-72 12%
TR-82 5%
TR-83 21%
TR-A1 Erzurum, Erzincan, Bayburt
TR-A2 Agri, Kars, Igdir, Ardahan
TR-B1 Malatya, Elazig, Bingol, Tunceli
TR-B2 Van, Mus, Bitlis, Hakkari
TR-C1 Gaziantep, Adiyaman, Kilis
TR-C2 Sanliurfa, Diyarbakir
TR-C3 Mardin, Batman, Sirnak, Siirt
TR-63 Hatay, Kahramanmaras, Osmaniye
TR-72 Kayseri, Sivas, Yozgat
TR-82 Kastamonu, Cankiri, Sinop
TR-83 Samsun, Tokat, Corum, Amasya
TR-90 Trabzon, Ordu, Giresun, Rize, Artvin,Gumushane
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Current Status (as of 12 May)
• Total Volume: TRY 177.5 million
(~ EUR 80.7 million)
• Total Number of Loans: 1875
• Main value-added concentrated on reduced collateral and interest rate
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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)
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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
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Questions?
Contacts:
Jose RomanoEIFHead of Turkey & [email protected]
Thank you
Özlem Çotuk
EIF
Project Manager
11 April 2011
Back-up slides
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 Bankproviding EUR 250m lending andlong-standing relationship with Turkish banks
• European Investment Fundmanaging the Facility andbringing expertise on risk-sharing
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Terms for the Micro-Credits
Max. Loan Amount EUR 25,000 / up to TRY 50,000
Min. Loan Maturity 6 months
Max. Loan Maturity 3 years
Currency TRY
Loan Type Investment or working capital
Beneficiaries Micro-enterprises (EU definition*) established or having majority operations in the Target Region
*Having less than 10 employees and annual turnover/total assets < EUR 2m
11 April 2011
Terms for the SME Loan
Max. Loan Amount EUR 500,000 / up to TRY 1,000,000
Min. Loan Maturity 2 years
Max. Loan Maturity 5 years
Currency TRY or EUR
Loan Type Investment or working capital
Beneficiaries SMEs (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