EBRD considering loan to spur MSME growth in Turkey
The EBRD is considering providing up to €150 million in senior loans to leading commercial banks in Turkey for on-lending to micro, small and medium-sized enterprises (MSMEs) under the Turkish MSME Financing Facility. The purpose of the project is to enable the banks to expand their portfolio of MSME loans in the economically less developed regions in the South East and East of Turkey and for specific sectors, such as agriculture, women entrepreneurs, where access to credit is limited. The EBRD’s financing will also assist the banks in diversifying and lengthening their funding base. The bank are set to provide up to €6 million in technical cooperation funds for capacity building, in order to increase and expand the MSME portfolios of the PBs in the economically depressed regions of the South East and East of Turkey.
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