Second Turkey Access to Finance for Small and Medium Enterprises Project

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The objective of the Second Access to Finance for Small and Medium Enterprises (SMEs) Project is to broaden and deepen the access of Turkish small and medium enterprises to medium and long-term finance, with a view to ultimately contributing to an expansion of productive activities and job creation. There are three components to the project. Under component one, the World Bank will provide a US$100 million credit line to Kalkinma Bank, which will be the Borrower and implementing agency for this component. Under component two, the World Bank will provide a US$200 million credit line to Ziraat Bank, which will be the Borrower and implementing agency for this component. Ziraat Bank, a public sector bank, has a unique advantage in offering credit to the SMEs (especially in the agro-processing sector) in all regions of the country due to its strong branch presence in the country combined with its focus on the SME segment and its plans to further expand its SME portfolio. Finally, under component three, the World Bank will provide a US$200 million credit line to Vakif Bank, which will be the Borrower and implementing agency for this component.