The World Bank has partnered Türkiye’s Vakifbank to mobilise up to €1.5 billion ($1.76 billion) in new financing to support micro, small and medium enterprises (SMEs) across the country, with a strong focus on women- and youth-led businesses.
The initiative will be backed by a €750 million International Bank for Reconstruction and Development (IBRD) guarantee, enabling a 10-year financing facility made up of commercial loans from international lenders.
The programme falls under the World Bank’s Access to Finance for Jobs and Growth Programme, a $4 billion initiative designed to expand access to financial services for businesses across Europe and Central Asia. Türkiye is among the first countries to benefit.
By improving access to long-term and affordable finance, the project aims to strengthen SME growth, boost job creation and widen the use of modern financial instruments, reinforcing the sector’s role as a key driver of economic activity.
