EIB renews its partnership with Halkbank with EUR 200 million for SMEs
OREANDA-NEWS. November 10, 2015. European Investment Bank (EIB) renewed its long-standing partnership with Turkiye Halk Bankasi A.S. (Halkbank) with a EUR 200 million facility to support small and medium sized enterprises (SMEs), as well as mid-caps in manufacturing, agribusiness, trade, tourism, education, health, energy, services, and information and communication technologies across Turkey, with particular focus on renewable energy and energy efficiency investments.
Pim van Ballekom, Vice-President of the EIB declared: “As the European Union’s bank, we are keen to reconfirm our large, swift and strong support to Turkey, which remains the largest recipient country of EIB financing outside the EU. In the last four years the EIB has provided EUR 3.7 billion of lending to some 14 000 SMEs and Midcaps in the country. Today, we renew our commitment to assist the Turkish entrepreneurial activity through this new signature with our successful banking partner Halkbank. Given the strength of its retail network, market expertise and business portfolio, I am confident that our partner is well placed to respond to the long term financing needs of the private sector for their investment projects. The transaction underlines the continuing commitment of the EIB to supporting Turkish investment projects via reliable local banking partners”.
Halkbank General Manager Ali Fuat Ta?kesenlio?lu said: "Thanks to our top quality staff and strong background, which dates back over three quarters of a century, we have been able to develop several new cooperative relationships in the world to help contribute to Turkey's future. We intend to use the new loan facility obtained under the agreement signed with the European Investment Bank to add new products and services to our portfolio of offerings provided to the real economy. A major indicator of the emphasis we place on sustainability, this facility shall help finance both the investment and working capital needs of SMEs and large corporations, as well as the financing needs for many renewable energy and energy efficiency investments. Given our vision of becoming the Bank of a Productive Turkey, we shall continue to support developing the investment and trade volumes of our country, as well as paving the way for developing this pioneering field.”
Thirteen EIB facilities with Halkbank have already been successfully allocated to SMEs, with good sector and regional diversification.
The EIB facilities increase the availability and maturity of funding for SMEs and mid-caps in Turkey, which are an essential part of the country’s economy and growth potential. The EIB’s credit lines effectively underpin the development goals of the Turkish government to enhance growth, job creation and investments, including in disadvantaged regions of the country.