JPMorgan, European bank to support Turkish businesses
ISTANBUL- Anadolu Agency
The bank will be joined by the JPMorgan Chase Foundation, which became the first private-sector philanthropic organization to co-finance grants for EBRD.
"The grant will be used to develop a new digital platform or solution that will expand access to know-how and learning opportunities for SMEs [small- and medium-sized enterprises]," it said.
The platform aims at helping businesses that face challenges in accessing information and the business networks they need to grow.
Additionally, the funding will lend support to promising women-led businesses in Istanbul.
The EBRD is a major investor in Turkey.
Since 2009, it has invested almost €12.4 billion in various sectors of the country’s economy, with almost all investment in the private sector.
The EBRD’s €7 billion Turkey portfolio is the largest among the 38 economies where the bank invests.