Donors Help Expand Turkish Bank's Lending Portfolio for SMEs

Donor organizations have agreed to provide up to euro95 million (USD126.17 million) to help a Turkish bank meet the rising demand for business development loans and expand its ability to lend to small-sized firms, farmers and female entrepreneurs.

The donors include the European Bank for Reconstruction and Development, DEB, Oesterreichische Entwicklungsbank AG, the Development Bank of Austria, the International Cooperation and Development Fund in Taipei and the Netherlands Development Finance Co., according to Business News. The loan will go toward Deniz Bank, the leading bank in agricultural lending and sixth largest overall in Turkey.

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    Ivy Mungcal

    As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.