Industrial Development Bank of Turkey joins EIF's shareholding

EIF is pleased to announce that, following the sale of three shares by EIB and effective 30 September 2006, Türkiye Sinai Kalkinma Bankasi A.S. (TSKB) (Industrial Development Bank of Turkey) has joined EIF's registry of shareholders with a 0.15% shareholding in the Fund.

EIF is a member of the EIB Group (European Investment Bank holds 61.35% of the EIF share capital) working in close cooperation with the European Union and the European Commission (holding 30% of the EIF share capital), and a range of banks and financial institutions, now totalling 26 in number and holding 8.65% of the EIF's capital. The EIF's authorised capital amounts to EUR 2 billion.

TSKB is EIF's first Turkish shareholder. It is the first and largest privately-owned investment and development bank in Turkey. It was established in 1950 with the support of the World Bank, the Central Bank of the Republic of Turkey and leading Turkish commercial banks.

Mr. Halil Eroglu, CEO of TSKB, commented: "TSKB's acquisition of EIF shares will result in new financial support opportunities for SMEs and will put TSKB's relations with EIF and EIB into a new and different phase".

Mr. Francis Carpenter, EIF's Chief Executive, commented: "We warmly welcome TSKB as new shareholder of EIF. TSKB has been a partner of the EIB Group for many years and its presence as a shareholder is one of the positive results of this long-term relation. EIF is committed to further increasing its activities in Turkey and having TSKB on board gives definitely the right signal".