TSKB and EBRD Join Forces for the Private Sector

28 May 2019
- 3 min Read

TSKB and EBRD will provide up to EUR 100 million to the private sector in a new risk sharing agreement signed jointly between them. The agreement between the two institutions, which will provide investment and business loans to companies throughout Turkey is the EBRD’s only example of risk-sharing cooperation in this field in Turkey.

The Industrial Development Bank of Turkey (TSKB) and the European Bank for Reconstruction and Development (EBRD) signed a new risk-sharing agreement.

In line with this agreement, together with TSKB, the EBRD will contribute 50% to the borrowing needs of various companies and thus, will have transferred a total of EUR 50 million. The agreement, which has the nature of being the second phase of the risk-sharing agreement, between the two institutions signed in 2016 for the first time has the distinction of being the only cooperation agreement with the EBRD in this field in Turkey.

“We will continue to support the private sector.”

The General Manager of TSKB, Mr. Suat İnce, who carried out an evaluation regarding the agreement signed with the EBRD said that “in the process of Turkey's economic rebalancing, financial support provided to the private sector is of great importance. With the risk sharing agreement which we signed with our esteemed partner, the EBRD, we are delighted to be maintaining our support for Turkey's economy and industry. TSKB looks forward to the future of our country, and continues to work uninterruptedly in order to create value for our private sector companies through both financing and consultancy services.

Emphasizing that since its establishment, TSKB has been a bank that strives with its all strength to promote the sustainable development of Turkey and the country’s industry, Mr. Suat İnce continued with the following: “Our aim has always been to improve our corporate banking, investment banking and consultancy services, which make up our business lines, and that to carry them further. The sustainable banking philosophy, of which we are the pioneer, continues to carry us to the goals we have set. Being the preferred business partner of our local and foreign stakeholders in every period is testament to how astute our strategies have proven to be.

The Vice President of the EBRD, Mr. Jurgen Rigterink, said the following: “In a period when EBRD lending activities have exhibited a relative decline, the EBRD continues to support Turkey. The EBRD expects Turkey's economy to enter a recovery point by 2020. Highly innovative tools such as today's risk sharing agreement signed with TSKB will enable companies to grow while they continue their commercial activities.