In December 2019, OeEB signed a USD 20 million loan with the Turkish Garanti Bank. The funds are used to finance micro and small businesses owned by women.
|Project name||Türkiye Garanti Bankasi A.S.|
Financial sector / Microfinance / SME
|OeEB project volume||
20 million US-Dollar
|Project partner(s)||Türkiye Garantie Bankasi A.S.|
The Turkish economy consists almost entirely of small and medium-sized enterprises (SMEs), which play a central role in job creation and income generation. However, SMEs - and especially women-owned businesses - are constrained in their development due to lack of access to finance.
As the second largest private bank in Turkey with a dense branch network, Garanti reaches SMEs across the country and specifically targets women. Through special loans, regular networking events and scholarships the bank contributes to improving gender equality in Turkey and is the only company in Turkey to be included in the "Bloomberg Gender Equality Index".
Gender equality is also taken seriously at Garanti itself. More than half of the bank's employees are women, there are training programs on gender equality as well as a gender equality committee which coordinates programs, processes and initiatives to increase the involvement and equality of women in the financial system, in society and in professional life.
The funds provided by OeEB are used to finance SMEs run by women. At least a third of the credit line is dedicated to SMEs based in Turkey's southeastern border provinces. This way, OeEB contributes to strengthening the private sector, to maintaining and creating jobs, and to improving gender equality in Turkey.