In 2014, the EBRD made an ambitious commitment to promote women’s entrepreneurship in Turkey, pledging €300 million in dedicated credit lines to local banks for on-lending to companies run by women.

Through their extensive branch networks, loans averaging €15,000 were provided to 14,400 companies in 79 out of 81 Turkish provinces. Two-thirds of the financing provided to date has been channelled to firms outside the large metropolitan areas of Istanbul, Izmir and Ankara. The EU and the Turkish government have joined the effort, with €38 million in grant funding.

Since it was pioneered in Turkey, the Finance and Advice for Women in Business Women programme has been rolled out to 16 other countries where the EBRD invests.