TSKB secures financing from EBRD to support businesses

ISTANBUL

The European Bank for Reconstruction and Development (EBRD) is providing a 75-million-euro loan to Turkish bank Türkiye Sınai Kalkınma Bankası (TSKB) to increase financial opportunities for women and young people, as well as companies affected by the earthquakes that hit Türkiye in 2023.

At least 15 percent of the funds will be lent to companies with policies and practices that support youth employment, while another 15 percent will be allocated to companies operating and investing in earthquake-affected regions, the development bank said in a statement.

The remainder of the proceeds will be lent to inclusive companies with policies and practices that promote female employment and leadership.

The loan coincides with the 75th anniversary of TSKB’s establishment and represents an expansion of its collaboration with the EBRD, which began back in 2011, according to the statement.

The EBRD has conducted six direct-lending transactions with TSKB over the years, mostly with a view to supporting access to green finance in the country.

The EBRD is one of Türkiye’s key investors, with almost 22 billion euros committed through 484 projects and trade finance limits since 2009, largely in the private sector.