Akbank and European Bank for Reconstruction and Development (EBRD) have signed a USD 130 million financing that will be used towards supporting women SMEs, young entrepreneurs and the digital transformation of SMEs.
Akbank signed a loan agreement of USD 130 million with European Bank for Reconstruction and Development (EBRD) to support SMEs, women business owners and young entrepreneurs. The USD 130 million financing will be used towards providing loans for women SMEs up to USD 70 million under Türkiye Women in Business (TurWiB) Programme; USD 50 million under Türkiye Youth in Business (TurYiB) Programme to finance young entrepreneurs, and USD 10 million to contribute to SMEs’ digital transformation under the Digital Transformation Finance Facility (DTFF) Programme.
Şebnem Muratoğlu, the Executive Vice President of Treasury and Financial Institutions of Akbank has noted “We broaden our ongoing collaboration with EBRD through diverse financing programmes and continue to advance in our support for SMEs. Echoing our partnership with EBRD in 2021 and 2022 in acquiring financing from TurWiB programme to support women SMEs, we are pleased to be continuing on this collaboration. Facilitating access to finance for young entrepreneurs through the newly announced TurYiB programme will enable Akbank to broaden our social impact as part of our sustainability goals. Technological investments are a key focus for Akbank, and we will continue to maintain our leading role in this area by contributing to the financing of SMEs' digital transformation within the scope of the DTFF."