The financing will be on-lent to small and medium-sized enterprises (SMEs) led by women from across the country under the Finance and Advice for Women in Business programme, which is jointly funded by the European Union, the EBRD and the Republic of Turkey.

 

The labour force participation rate of women in Turkey is very low, at below 50 per cent. Entrepreneurship is one of the most important avenues for job creation; however women-led businesses face additional constraints in accessing the financing and know-how they need to grow their businesses.

The Finance and Advice for Women in Business programme includes a comprehensive package of €300 million in dedicated credit lines to participating banks to facilitate access to finance for women-led businesses and a risk-sharing mechanism and advice to help these banks better address the financial needs and growth plans of their clients. The programme also involves direct advice to SMEs led by women to improve the competitiveness of these businesses and a range of training, networking and mentoring opportunities.