TSKB Signs Major International Loan Agreement
Turkey Industrial Development Bank (TSKB) has signed a new loan agreement worth 100 million US dollars with the International Finance Corporation (IFC), a member of the World Bank Group. This loan aims to enhance the integration of women into the workforce and improve their access to employment in Turkey through companies and investments that promote gender equality, taking into account the regions affected by the earthquake. The agreement seeks to support investments in areas such as renewable energy, energy and resource efficiency, circular economy, climate adaptation, women's employment, and disaster resilience.
With this new funding, TSKB aims to support initiatives that increase the participation of women in the workforce in the private sector in Turkey. The agreement is a continuation of the credit agreement focused on women's employment that was established with IFC in 2022. Companies that possess a certain number of female employees, have women in their boards or senior management, and hold a valid gender equality certification will be eligible for the loan.
Murat Bilgiç, TSKB's General Manager, stated that they believe sustainable development can only be achieved through women's participation in the economy. Bilgiç noted that they have secured approximately 500 million US dollars in funding directly focused on gender equality to date. Additionally, he explained that they have raised their impact on sustainable development goals through gender-themed loans to 12%. He emphasized that women's participation in the workforce not only enhances individual well-being but also improves family education and health indicators and accelerates social development.
Wiebke Schloemer, IFC's Director for Turkey and Central Asia, pointed out that women represent a significant talent pool that could contribute substantially to economic growth in Turkey. Schloemer expressed that their partnership with TSKB demonstrates that helping women succeed in business and advancing gender equality is both a right and prudent strategy. It was highlighted that this partnership is a significant step in increasing women's employment and strengthening gender equality.