Formal Employment Creation 2 Project

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Employment rates in the Turkiye have been lower than countries with similar levels of development. Disparities in the labor market are significant, with women, youth, and rural areas experiencing notably lower employment opportunities. The devastating Kahramanmaraş earthquakes of February 2023 have further exacerbated the regional disparities in employment opportunities. Building on the successes of the Formal Employment Creation Project (FEC) (P171766), the proposed Project aims to address key credit constraints in the earthquake-affected provinces to spur formal job creation. The project will expand credit access to small and medium sized enterprises and large enterprises to spur job creation and will provide capacity building support to firms on a range of issues related to financial management and intermediation, environmental and social (E&S), gender, climate resilience and market analysis.