World Bank mobilizes 1.5 billion euro financing for Turkish small businesses

ISTANBUL

The World Bank Board has approved the Access to Finance for Jobs and Growth Project in Türkiye, an initiative designed to expand access to finance for micro, small and medium enterprises (MSMEs) and support job creation across Türkiye with a strong focus on women and youth.

The project, implemented in partnership with Vakıflar Bankası, will leverage a 750 million euros ($867.8 million equivalent) IBRD guarantee under the World Bank Group Guarantee Platform to mobilize up to 1.5 billion euros, a 10-year financing facility in commercial financing from international lenders, the multilateral lender said in a statement.

Treasury and Finance Minister Mehmet Şimşek stated that the amount of financing approved by the World Bank in 2025 totaled approximately $4.2 billion.

"Within the scope of our long-standing cooperation with the World Bank, we evaluate that increasing employment opportunities, particularly for women and youth, will make a significant contribution to economic development. Our successful collaboration with the World Bank will continue to strengthen in the period ahead,” Şimşek said.

“The project also establishes a platform to harmonize market standards across banks, enhancing digitalization and supporting a more resilient financial ecosystem,” commented World Bank Country Director for Türkiye Humberto Lopez.

By targeting women and youth, the project aims to expand access to finance for all viable MSMEs and use incentives to strengthen employment, competitiveness, and growth across the economy, the World Bank said.

The guarantee will provide sub-loans to approximately 30,000 MSMEs, including 15,000 women-led and 1,000 youth-led firms.

Türkiye is among the first countries in Europe and Central Asia to benefit from the World Bank’s Access to Finance for Jobs and Growth (FINGROW) Program.