Turkey: EIB makes €100m to finance small firms
European Investment Bank
Ankara - Anadolu
The European Investment Bank (EIB) has agreed to loan €100 million ($111 million) to the Industrial Development Bank of Turkey, the Turkish Treasury announced in a statement on Thursday.
The loan is to finance small- and medium-sized enterprises (SMEs) as well as medium-sized corporates.
The Industrial Development Bank of Turkey will lend the funds to private-sector companies for projects that encourage innovation, the Treasury said.
The loan will be guaranteed by the Treasury.
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