Chat with us, powered by LiveChatEBRD will lend further 50 million euros for women-led SMEs in Turkey - FASI
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EBRD will lend further 50 million euros for women-led SMEs in Turkey

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26 April 2023

Photo credit: European Bank for Reconstruction and DevelopmentThe European Bank for Reconstruction and Development (EBRD) will grant a new 50-million-euros loan to Türk Ekonomi Bankası A.Ş. (TEB) to create new opportunities for women-led small and medium-sized enterprises.

The support is provided as part of the 600 million euros allocated for TurWiB II, the integrated and dedicated programme supporting women entrepreneurship launched in 2014. TEB is asked to adapt its business model and delivery mechanisms "to make them more inclusive and better meet the needs of women-led small and medium enterprises". The Turkish regional bank will expand its investment portfolio in initiatives related to this and target clients outside major urban areas.

In 2015 the EBRD undertook a similarly targeted transaction with TEB with a 50 million euro financing provided under the Finance and Advice for Women in Business programme for facilitating access to finance for women-led SMEs through a risk-sharing mechanism and advisory to help banks better address the financial needs and growth plans of their clients. This matches with the EBRD focus on promoting gender equality in the Turkish economy, which has benefitted of more than 17 billion euros, mainly allocated to the private sector.

TurWiB was launched in 2014, before becoming operational in many economies across the Bank's regions. EBRD financing has been accompanied by a technical cooperation programme to help TEB to build their internal capacity to better affect women entrepreneurship and a risk sharing mechanism supported by the Turkish Credit Guarantee Fund ('CGF') to stimulate lending on a sustainable basis. Women entrepreneurs are provided with advisory, mentorship and networking opportunities, facilitating their access to know-how and non-financial development services, as well as access to markets.

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