EBRD grants €50m loan to TEB to support women-led SMEs in Türkiye

EBRD grants €50m loan to TEB to support women-led SMEs in Türkiye

(IN BRIEF) The European Bank for Reconstruction and Development (EBRD) has granted a €50 million loan to Türk Ekonomi Bankası A.Ş. (TEB) to expand financial opportunities for women-led small and medium-sized enterprises (SMEs) in Türkiye. This loan is part of the EBRD’s €600 million Türkiye Women in Business II (TurWiB II) program, which builds on the success of the initial TurWiB initiative. The loan’s proceeds will promote and strengthen the role of women-led SMEs and help TEB become more inclusive and better meet the needs of women-led SMEs. The EBRD remains focused on promoting gender equality in the Turkish economy and has been supporting Women in Business in Türkiye for ten years.

(PRESS RELEASE) LONDON, 17-Apr-2023 — /EuropaWire/ — The European Bank for Reconstruction and Development (EBRD), a multilateral developmental investment bank, announces that it has granted Türk Ekonomi Bankası A.Ş. (TEB) a €50 million loan to expand financial opportunities for women-led small and medium-sized enterprises (SMEs) in Türkiye. The loan is part of the EBRD’s €600 million Türkiye Women in Business II (TurWiB II) program, which builds on the success of the initial TurWiB initiative.

The loan’s proceeds will not only promote and strengthen the role of women-led SMEs but also help TEB adapt its business model and delivery mechanisms to become more inclusive and better meet the needs of women-led SMEs. Additionally, TEB will expand its Women in Business portfolio and target clients outside major urban areas.

This loan is not the first time the EBRD has undertaken a similarly targeted transaction with TEB. In 2015, they worked together to promote gender equality in the Turkish economy. The EBRD remains focused on supporting Women in Business in Türkiye, celebrating its tenth anniversary of doing so in 2022. The TurWiB program was launched in 2014 and has become operational in several economies across the Bank’s regions.

The EBRD is a significant institutional investor in Türkiye, having invested over €17 billion in various sectors of the economy since 2009, primarily in the private sector.

Media contact:

Tel: +44 207 338 7805
Email: press@ebrd.com

SOURCE: EBRD