The European Bank for Reconstruction and Development (EBRD) will provide €50 million through Garanti Bank to Turkish companies led by women which have limited access to credit, the bank said on Wednesday.
The financing comes under the Finance and Advice for Women program, co-funded by the European Union, EBRD, and Republic of Turkey.
According to a bank statement, the funding includes a comprehensive package of dedicated credit lines to participating banks to facilitate access to finance for women-led businesses and a risk-sharing mechanism and advice to help these banks better address the financial needs and growth plans of their clients.
The program also involves direct advice to small- and medium-sized enterprises (SMEs) led by women to improve the competitiveness of these businesses and a range of training, networking and mentoring opportunities, the statement added.
