World Bank to grant $ 300 million loan to businesses affected by pandemic in Turkey
ANKARA (Turkey), Dec.21 (SeeNews) – The World Bank Group has announced that it will provide a loan of $ 300 million (246.5 million euros) to Turkey for the implementation of a project intended to help local micro and small enterprises (MSEs) to fight against the economic crisis. impact of the Covid-19 pandemic.
The project, implemented by the Small and Medium Enterprises Development Organization of Turkey (KOSGEB), will provide repayable funding to businesses affected by Covid-19 by focusing on manufacturing, scientific research and development and programming IT, the World Bank said in a statement last week. .
The project will pay special attention to women-owned businesses, the bank added.
“WB funding provided under the project will go to micro and small enterprises in Turkey, which are the main source of employment for poor and near-poor households and account for over 40 percent of jobs in the manufacturing sector.” , Stefka Slavova, Chief Economist at the World Bank and Project Team Co-Leader, said.
KOSGEB, established within the Turkish Ministry of Industry and Trade in 1990, provides a range of services and support to small and medium enterprises in Turkey.
($ = 0.8215 euro)