The European Bank for Reconstruction and Development (EBRD) supports the agriculture sector in Turkey with a credit line for micro and small enterprises (MSEs).
In its first transaction in the banking sector in the country, the EBRD is providing a €20m loan (approximately 43 million Turkish lira) to DenizBank, one of the leading private lenders to the agriculture sector.
The EBRD support is aimed at enabling DenizBank to maintain the availability of credits to small companies and farmers in the remote areas in the current tight credit markets. The credit line will be used to finance operations of small agricultural producers in Turkey, with loans worth up to €100,000.
DenizBank is the sixth largest bank in Turkey and the leading private bank active in agricultural lending with over 400 branches in more than 60 out of 81 cities in Turkey.