EBRD Strengthens Turkish Microfinance

The European Bank for Reconstruction and Development will provide 20 million euros (USD24 million) to a local bank in Turkey to increase the availability of finance to micro, small and medium-sized businesses in the country.

The credit line will be made available to Isbank, the largest privately-owned bank in the country, and is expected to benefit private businesses outside the major cities of Ankara, Istanbul and Izmir.

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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.