Turkey’s TSKB inks $400 million loan deal with World Bank unit

Turkey’s TSKB inks $400 million loan deal with World Bank unit

ISTANBUL
Turkey’s TSKB inks $400 million loan deal with World Bank unit

The Industrial Development Bank of Turkey (TSKB) has said it has signed a $400 million loan agreement with World Bank’s International Bank for Reconstruction and Development. 

The deal was inked on June 7 within the scope of the “Inclusive Access to Finance Project,” which aims to supporting companies which promote women participation in labor force and operate in the regions where Syrians reside more, the company said in a statement to the Public Disclosure Platform (KAP).

The loan is extended with the guarantee of the Undersecretariat of the Turkish Treasury, according to the statement.

“One of the two main themes that will be targeted to support through the loan will be financing private sector companies that promote women’s participation in labor force and women friendly working environment,” the company stated.

“The second theme aims to support private sector companies operating in regions, where Syrians under temporary protection more densely reside,” it added.

The investment and working capital needs of private sector companies and mainly the SMEs under the related themes will be promoted by means of this loan, which is envisaged to support our country’s economy by creating employment, according to the statement.

A certain amount of the loan will also be disbursed to the final beneficiaries through intermediation of commercial banks.

loan, Turkey, economy, World Bank, TSKB