Japan International Cooperation Agency (JICA) signed a loan agreement with Şekerbank Türk Anonim Şirketi (Şekerbank) of the Republic of Turkey on November 5.
This project is the first overseas investment and loan for Turkey, and will be cofinanced with the Netherlands Development Finance Corporation (FMO) and France’s Overseas Economic Cooperation Promotion Company (Proparco).
Signing Ceremony
Loan recipients
Şekerbank Türk Anonim Şirketi
Country (region covered)
Republic of Turkey (Province)
Loan amount
US$30 million
Project Name
Local Small and Micro Enterprise Support Program
Business Objectives
This project aims to improve access to finance for micro, small, and medium-sized enterprises (MSMEs) in Turkey by providing loans to Şeker Bank, a local commercial bank in Turkey, thereby contributing to improving access to finance for MSMEs in rural areas of the country, maintaining and expanding employment, and improving economic disparities between urban and rural areas.
Business Overview
Loans under the project will be sub-loaned through Shekel Bank to small, medium and micro enterprises in rural areas, including those affected by the February 2023 Turkish-Syrian earthquake, or those owned by women.
Contribution to the SDGs
Goal 5 (Achieve gender equality)
Goal 9 (Create a foundation for industry and technological innovation)
Goal 17 (Let’s achieve our goals in partnership)
Other
This project is positioned under the Financial Inclusion Promotion Facility (FAFI) established in May 2023.
© Source JICA
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