EUR 30 MILLION LOAN FROM KFW TO YAPI KREDİ LEASING

Yapı Kredi Leasing signed a loan agreement with KfW Entwicklungsbank (German Development Bank) with a total maturity of 7 years including a grace period of 3 years. This loan with a total amount of EUR 30 million will be used to finance the energy efficiency projects

This loan has a particularity of being the very first energy efficiency loan from abroad to Turkey and provided under a joint project with IFC.

In his statement the Director General Mr. Yavuz Sariyildiz said that: KfW provided a loan for the first time to Yapi Kredi Leasing other than banks in the financial sector in Turkey. We keep our leadership in the leasing sector having a marked share of 15%. We are also proud to get the first energy efficiency loan from KfW to Turkey. We shall keep on supporting Turkish industry with long term loans with considerable conditions.

About Yapı Kredi Leasing
Yapı Kredi Leasing is the top leasing company in Turkey with its asset size (around $ 2.1 billion) and amount of transactions ($ 1.6 billion). In 2007, the asset size of the Turkish Leasing Sector reached $ 8.2 billion.

About KfW
KfW Entwicklungsbank – German Development Bank, implements the financial cooperation projects on behalf of German Government and also provides promotional loans to developing and emerging countries. KfW established in 1948 and today has offices in more than 50 countries in the world. KfW has a rating of AAA with a balance sheet total of EUR 360 billion.