TSKB Signed USD 100 Million Loan Agreement with IFC to Promote Women’s Employment

TSKB signed a new loan agreement worth USD 100 million with IFC, a member of the World Bank Group. The agreement aims to increase women's integration into working life and access to the workforce in Türkiye through companies and investments that promote gender equality, taking into account regions affected by the earthquake.

Bringing financings from international development finance institutions and financial institutions to Türkiye to support investments in areas such as renewable energy, energy and resource efficiency, circular economy, climate adaptation, women's employment, and disaster resilience, TSKB (Industrial Development Bank of Türkiye) has signed a new loan agreement with IFC (International Finance Corporation), a member of the World Bank Group. TSKB has secured a new funding of 100 million USD to support the private sector's efforts to increase women's participation in the workforce in Türkiye, taking into account the regions affected by the earthquake.

The new loan, a continuation of the women's employment-themed loan agreement with IFC signed in 2022, will consider companies' inclusivity strategies and practices. Companies with a certain number of female employees, women executives on the board of directors or in senior management, or a valid gender equality certificate will benefit from the loan.

Commenting on the agreement, TSKB CEO Murat Bilgiç said, "We believe that creating a meaningful impact in sustainable development is only possible by encouraging women's participation in the economy. With this understanding, we have secured approximately 500 million USD in funding directly focused on gender equality to date and increased our overall impact related to the Sustainable Development Goal 5 in our portfolio to a level of 12% together with our other women-themed loans. Women's inclusion in the workforce not only increases individual well-being, but also improves education and health indicators of families, and accelerates societal development. By increasing women's competencies beyond their traditional social roles, we can enhance the efficiency they bring to the economy. Following the loan agreement signed with our esteemed partner IFC in 2022, we are pleased to jointly implement the key to this transformation through the second agreement signed today. I wish for it to be auspicious for our country."

"Women represent an underutilized talent pool in Türkiye that can significantly contribute to its economic growth,” said Wiebke Schloemer, IFC Director for Türkiye and Central Asia, “Our partnership with TSKB demonstrates that helping women thrive in businesses and advancing gender equality isn’t just the right thing to do—it’s the smart thing to do.”