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EBRD narrows the funding gap for women-led businesses in Turkey

 September 30, 2022

Forging gender equality and supporting women in business is a key priority for the European Bank for Reconstruction and Development (EBRD). And working for EBRD means helping turn ambition into success.

EBRD's flagship Women in Business programme has seen 20,000 women benefit.

Providing finance to women-led businesses

EBRD is providing a US$50 million syndicated loan to Akbank, a key lender in Turkey, to improve the ability of the country’s banking sector to finance women-led businesses.

The loan is a follow-up to the EBRD’s TurWiB II initiative with Akbank, and aims to build on the success of the Women in Business credit line provided to the bank back in 2021. The previous credit line delivered US$ 50 million to women-led small and medium-sized enterprises (SMEs) and encouraged the bank to take further initiative in that segment. The EBRD also mobilised US$ 25 million from Dutch-based ILX, an SDG-focused emerging market credit fund and a new B-lender to the Turkish market on behalf of leading Dutch pension funds.

The EBRD’s expanded flagship Women in Business programme in Turkey provides a total of €600 million for Turkish banks to on-lend to women-led SMEs to strengthen their role in the Turkish economy and to promote inclusive sustainable growth. The EU and Turkey’s Credit Guarantee Fund, as well as the Ministry of Treasury and Finance support the programme.

EBRD is a leading investor in Turkey

The EBRD is a leading institutional investor in Turkey and to date has invested more than €16,5 billion in Turkey through 378 projects, with the overwhelming majority of those investments in the private sector. The Bank’s €7 billion portfolio in Turkey is the largest of the 38 economies in which the EBRD invests.

Work for an organization support women worldwide

The EBRD looks to recruit people passionate about its values and work.

Bankers, analysts, economists, IT specialists or researchers can utilize a number of opportunities to support the EBRD in its operations from client relations to communications.

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Disclosure: Where Women Work researches and publishes insightful evidence about how its paid member organizations support women's equality.

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