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Türkiye has secured €1.5 billion ($1.76 billion) in conditional financing under a newly approved "Access to Finance for Employment and Growth" project aimed at supporting small and medium-sized enterprises (SMEs), particularly those led by women or located in earthquake-affected regions, the Treasury and Finance Ministry announced on Tuesday.
The project has been approved by the Executive Board of the World Bank and will be implemented through VakifBank, a state-run lender.
Of the €1.5 billion in loans raised by VakifBank from various sources, half—equivalent to €750 million—will be backed by a World Bank guarantee, the ministry said.
The facility is expected to improve SME access to longer-term and lower-cost foreign financing by offering favorable lending conditions as part of Türkiye’s broader effort to mobilize international resources to strengthen the real sector and support inclusive employment.
The financing scheme prioritizes businesses with high levels of female ownership and employment, as well as those operating in regions affected by the February 2023 earthquakes centered on Kahramanmaras.
In a written statement, Treasury and Finance Minister Mehmet Simsek emphasized the developmental impact of the ongoing cooperation, stating that the government views employment opportunities for women and youth as a key contributor to economic growth.
"Our successful cooperation with the World Bank will continue to grow stronger in the coming period," Simsek added.
Simsek said that the total amount of conditional foreign financing approved by the World Bank for Türkiye in 2025 has reached approximately $4.2 billion.
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