| 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. |
