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.