Akbank SME Loan

completed

The primary objective of the proposed term loan to Akbank under this Project is stemming from the relatively low appetite of banks to lend to the SME sector. The higher perceived risk of this sector, combined with the global credit crisis, is causing serious financial pressure on the development of the SMEs. The Project will support Akbank’s new strategic business plan targeting an increased focus on SMEs. The Bank stands to benefit from existing customer relationships with its branches throughout the Country and aims to develop new products to support this goal and fulfill its target of becoming a leading SME bank. Thus, financing SMEs through the Bank is consistent with IFC’s strategy to promote growth of SMEs at the current difficult global economic context.