75-million-dollar loan from Şekerbank to producers

IFC (International Finance Corporation), a member of the World Bank Group, has provided Şekerbank with a 75-million-dollar loan with a maturity of 5 years to be used in financing tradesmen, small-sized enterprises and farmers. IFC has provided Şekerbank, of which it is also a shareholder, with this loan with regard to Şekerbank's "Community Banking" mission and experience in local banking.

17.07.2015

IFC (International Finance Corporation), a member of the World Bank Group, has provided Şekerbank, of which it is also a shareholder, with a 75-million-dollar loan with a maturity of 5 years. This loan will be used for financing SMEs, micro-enterprises, enterprises operating in agricultural sector and farmers. 

Şekerbank, which conveys the long-term loans it gets from international financial institutions to its broad-based client group in line with its "Community Banking" mission, will also put this new loan into use in regions which have not been able to make use of banking services adequately with the aim of extending access to financing.

Zeki Önder: “IFC has once more confirmed its trust in and support to Şekerbank”

Zeki Önder, Executive Vice President/Financial Institutions, Şekerbank stated that 89% of Şekerbank's total loan portfolios consist of commercial loans; namely agricultural, tradesman, enterprise, SME and corporate loans, and that the Bank is the leader in this field in the sector. Mr. Önder emphasized the importance of supporting production for our country's economy, and said that: 

"The 75-million-dollar loan received from IFC will be put into use in line with the needs of small-sized enterprises and agricultural segments that are given priority by the Bank. The compatibility between IFC's mission and our Bank's priorities has enabled the relationship between the two institutions to develop over the years. With this loan, IFC has once more confirmed its trust in and support to our Bank. Şekerbank, in line with its mission, will continue to deepen and develop its relationships with international institutions and to always be an assertive representative of sustainable banking in Turkey with its pioneering and innovative approach."

Ed Strawderman: "We provide the SMEs with access to financing through our cooperation with Şekerbank"

Ed Strawderman, IFC Head of Financial Institutions Group for Europe, Middle East, and North Africa, stated that they provide the SMEs in Turkey with access to financing through their cooperation with Şekerbank, and said that: 

“One of the primary aspects of IFC’s strategy in Turkey is providing support to small and medium sized enterprises that constitute almost 90% of the economy and employment. We aim to provide support to more entrepreneurs and farmers, and enhance their access to financing in order to increase the production in Turkey. Within this scope, our longstanding cooperation with Şekerbank continues to grow stronger."

IFC had also invested in Şekerbank Asset-Backed Securities as SME loan backed which was a first in the world

Şekerbank had put half of the 50-million-dollar subordinated loan it had previously received from IFC into the use of SMEs and the other half into the use of female entrepreneurs. Besides, Şekerbank issued asset-backed securities as SME loan backed which was a first in the world in 2011, and built a bridge between international finance institutions and SMEs in Turkey with its issuance of asset-backed securities, TRY 44 million 750 thousand of which was received from IFC.