BAKU, Azerbaijan, April 11. The European Bank
for Reconstruction and Development (EBRD) has extended a 25 million
euro loan to Türkiye’s DenizBank to support the digital
transformation of small and medium-sized enterprises (SMEs) in the
manufacturing sector, Trend reports.
The funding is part of the EBRD’s Digital Transformation
Financing Facility (DTFF), which aims to improve productivity in
Türkiye’s manufacturing sector by supporting digital
investments.
Despite their key role in the Turkish economy, SMEs often face
difficulties accessing finance and have lower levels of digital
maturity compared to peers in the EU and OECD. The DTFF,
implemented in cooperation with Türkiye’s Small and Medium
Enterprises Development Organization (KOSGEB) and Credit Guarantee
Fund (KGF), is designed to address these challenges.
Participating SMEs will be encouraged to use digital consultancy
services to assess their digital readiness and develop tailored
digital roadmaps. KOSGEB will offer partial compensation for
consultancy fees and interest-rate incentives to support these
efforts.
Engin Eskiduman, DenizBank Executive Vice President, said the
loan will help SMEs invest in technologies that improve efficiency,
reduce costs, and enhance competitiveness.
DenizBank operates 644 branches across Türkiye, Girne, and
Bahrain, along with 14 additional branches in Austria and Germany
through its Vienna-based subsidiary.
The EBRD has invested over 20 billion euros in Türkiye through
478 projects since 2009, mainly in the private sector.