Istanbul, Türkiye, March 15, 2023— To help boost Türkiye's competitiveness and increase regional and global trade, IFC is providing a $200 million financing package to Marport Liman İşletmeleri Sanayi ve Ticaret A.Ş. (Marport), the operator of Marport terminal, a critical shipment and gateway hub for Türkiye and the Black Sea region.
Located on Türkiye' s Marmara coast, Marport is the third largest container terminal in the country and a strategically important infrastructure asset, which supports international trade through the handling of import and export-based cargo as well as serving regional trade around the Black Sea.
IFC's funding will support a capital expenditure program for Marport to improve the servicing of larger vessels by extending and refurbishing terminal berths. The company will also use the funds to buy new environmentally friendly cranes and refinance an existing bridge loan.
"With our highly experienced team and substantial capacity, we provide importers and exporters an advantageous position in terms of commercial strategy and cost management, contributing to Türkiye's economy," said M. Özgür Kalelioğlu, President of Marport. "As we continuously strive to enhance our capacity, we remain open to new opportunities for investment".
The financing comprises IFC's own funding of $105.5 million and $94.5 million mobilized from international financial institutions. More than a third of the financing package is earmarked for climate finance – with the company aiming to use more energy-efficient equipment to reduce greenhouse gas emissions.
"Improving the quality of its infrastructure is vital for Türkiye's global competitiveness, while its unique geographic position plays a key role in enhancing the development of the Black Sea region," said Wiebke Schloemer, IFC Director for Türkiye and Central Asia. "IFC's financing will also help support Türkiye's competitiveness at a challenging time when access to long-term financing is extremely limited."
Marport is owned equally by the leading Turkish conglomerate Arkas Holding and Terminal Investment Limited, a leading global port operator.
IFC has supported private sector development in Türkiye for more than 50 years, with investments of nearly $10 billion in the last decade alone. Türkiye represents IFC's third-largest country exposure globally, with a committed portfolio of close to $4 billion as of June 2022.
About IFC
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2022, IFC committed a record $32.8 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit www.ifc.org.
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About Marport
Marport was established in 2001 as a joint venture by Arkas and TIL to develop and operate the Marport container terminal that would provide sustainable capacity that aids the future growth of Türkiye.
Located in Istanbul Ambarli Port facilities, Marport provides streamlined operations as well as accessibility to the hinterlands with its connection to TEM and E-5 highways on the European side. With continued investments in technology, equipment, and infrastructure, Marport's annual capacity reached 2.3 million TEU as of 2018. With its 16.5-meter draft, five berths and ten super post - panamax STS (Ship to Shore) cranes, the terminal has the capacity to handle 400-meter-long vessels with a capacity of 19.000 TEU and above, representing the largest container vessels arriving in Türkiye. Marport manages 18% of container traffic in the Marmara region and 12% of the country's overall container traffic.
