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Turkey Project Notice - FIF - DTFF - TEB


Project Notice

PNR 61960
Project Name FIF - DTFF - TEB
Project Detail Location: Türkiye Project number: 54760 Business sector: Financial institutions Notice type: Private Environmental category: FI Approval date: 03 Oct 2023 Status: Signed PSD disclosed: 03 May 2024 A senior unsecured loan up to EUR 25m with up to 2 years final maturity and bullet principal repayment, to finance digital transformation investments of the Turkish manufacturing SMEs under the Digital Transformation Financing Facility ("DTFF" or "Programme"), a blended programme established under the Financial Intermediaries Framework ("FIF"). Project Objectives Turkish SMEs are lagging behind their EU and OECD peers in terms of digitalisation, therefore their production and operational processes are often struggling to compete with global peers. DTFF aims to spread the use of digital technologies among Turkish SMEs through promoting and financing digital transformation to significantly boost their competitiveness. The proposed facility will be the first transaction under the recently appoved DTFF programme and builds on TEBs ambition to pioneer digitalisation transformation of their SME clients. The operation is also aligned with the second priority of Türkiye Country Strategy 2019-2024, approved by the Board on 24 July 2019: "Foster Turkeys Knowledge Economy and Higher Value-Added Activities, and Promote Good Governance". It is also aligned to the Small Business Initiative (BDS15-050). Finally, the project is consistent with the Banks Strategy for the Promotion of Gender Equality (BDS21-133 (Rev 1)) and the Equality of Opportunity Strategy ((2021-2025) BDS21-134 (Rev 1)) as it fosters people access to digital technologies and aims to address the disproportionate barriers faced by women entrepreneurs.
Funded By European Bank for Reconstruction and Development (EBRD)
Sector Forestry
Country Turkey , Asia
Project Value TRY 25,000,000

Contact Information

Company Name TURK EKONOMI BANKASI AS
Web Site https://www.ebrd.com/work-with-us/projects/psd/54760.html

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