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Turkish lender Akbank and the European Bank for Reconstruction and Development (EBRD) signed a $130 million loan agreement to support small and medium-sized enterprises (SMEs) in Türkiye, with a specific focus on women-led businesses, young entrepreneurs, and digital transformation initiatives.
According to a statement from Akbank, the financing will be allocated across three programs designed to promote inclusivity and modernization in Türkiye’s SME landscape.
Of the total amount, $70 million will be provided through the Türkiye Women in Business (TurWiB) program to support female SME owners. Another $50 million will be distributed under the Türkiye Youth in Business (TurYiB) initiative, aimed at helping young entrepreneurs access credit. The remaining $10 million will go toward digital transformation projects under the Digital Transformation Finance Facility (DTFF).
Commenting on the agreement, Sebnem Muratoglu, executive vice president for Treasury and Financial Institutions at Akbank, noted that the partnership with EBRD is being expanded through diverse programmatic collaborations. She highlighted that Akbank had previously secured loans under the TurWiB program in 2021 and 2022 to support women-owned SMEs.
With the addition of TurYiB, Muratoglu said, the bank aims to widen the social impact of its sustainability goals by easing access to finance for young business owners.
Muratoglu noted that technology investment remains a key area for Akbank, adding that the $10 million allocated under the DTFF program is intended to support the digital transformation efforts of SMEs.
Founded in 1948, Akbank is one of Türkiye’s leading private banks, with total assets amounting to ₺3.03 trillion ($128.75 billion) as of the latest quarter.
EBRD, a multilateral development bank established in 1991, has invested €22.7 billion ($26.32 billion) in Türkiye since 2009 across a range of projects aimed at supporting private sector development.
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