100 million euro loan agreement from İş Bankası
İş Bankası has signed a new loan agreement worth 100 million euros with a final maturity of 5 years with Proparco, the private sector arm of the French Development Agency.
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As part of the long-standing cooperation between the two institutions, a new loan agreement worth 100 million euros with a final maturity of 5 years was signed.
The loan in question will be used to meet the financing needs of micro, small, and medium-sized enterprises while strengthening İş Bankası's support for climate finance projects.
"WE WILL SUPPORT THE FINANCING OF PROJECTS"
İş Bankası Deputy Chief Executive Ebru Özşuca stated in her assessment of the matter, "With this new resource we have secured, we will support both micro, small, and medium-sized enterprises and the financing of projects that contribute to the fight against the climate crisis."
Proparco Regional Director for Turkey, the Middle East, the Caucasus, the Balkans, and Central Asia, Stéphane Froissardey, said the following regarding the transaction:
“We are pleased to strengthen our long-standing partnership with İş Bankası with this 100 million euro loan that will support climate finance and SMEs. Collaborating with the country's largest private bank ensures that this financing has a broader scope and impact within the Turkish economy. This transaction is also fully in line with our commitment to improving access to finance and supporting the transition to a low-carbon economy.”