Turkish SMEs Win EIB Aid

The European Investment Bank is providing 150 million euros (USD196 million) to help small and medium-sized enterprises in Turkey deal with the effects of the recent global economic crisis.

The assistance comprises two loans worth USD75 million euros each. The loans will be given to Akbank and Halk Bank to help them expand their lending services for Turkish SMEs.

About the author

  • 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.