Categories: BANKS

EBRD and TSKB support Turkish medical equipment producer Asset Medikal

The FINANCIAL — The European Bank for Reconstruction and Development (EBRD) is giving a financial boost to one of Turkey’s fastest-growing medical equipment producers, Asset Medikal Tasarim AS, following burgeoning demand triggered by the coronavirus outbreak. The EBRD is joining forces with Turkiye Sinai Kalkinma Bankasi (TSKB) – the Industrial Development Bank of Turkey – by jointly providing a €1 million working capital loan to help the company expand its production.

According to EBRD, Asset Medikal is producing innovative needle-free valves, which prevent healthcare workers from accidental needlestick injuries. The company’s products are sold in 30 countries across 5 continents. Covid-19 has significantly increased the need for transfusions in hospitals, triggering a jump in demand for Asset Medikal’s products.

The loan, provided equally between the EBRD and TSKB, will enable Asset Medikal to increase production by supporting its working capital needs. The company will also take steps to improve social sustainability by raising awareness and increasing gender equality. Furthermore, Asset Medikal will aim to maintain social benefits in line with the healthcare industry.

The EBRD and TSKB are working together to improve and simplify access to finance for small and medium-sized enterprises (SMEs) across Turkey. Under a risk-sharing agreement, the two lenders provide equal loans to eligible businesses that are identified jointly. Clients can use the loans to finance working capital, capital expenditure or refinance existing loans.

The EBRD is a major investor in Turkey. To date, it has invested €12.4 billion through more than 300 projects in various sectors of the country’s economy, with almost all investment in the private sector. The EBRD’s €7 billion Turkey portfolio is the largest among the 38 economies where the Bank invests.


Since 2005

Recent Posts

Gala & Muse Bar & Restaurant a Hit at the Hilton Aventura Miami

On an unseasonably cool South Florida evening with a breeze that kept the humidity at…

11 hours ago

Georgia Moves towards Greener, More Resilient Development

The World Bank’s Board of Executive Directors today approved two new operations for Georgia –…

11 hours ago

Rethinking public debt as positive investment in sustainable development

The unprecedented fiscal firepower used to protect the vulnerable from the harsh socio-economic impact of…

12 hours ago

Maximizing Your Returns: How to Choose the Right Mutual Fund‍

Are you looking to invest your hard-earned money and earn returns from it? Mutual funds…

4 days ago

How Custom CRM Can Help Businesses: Perks, Hurdles, and Your Ultimate Game Plan

So you're a business owner, and you've heard that 91% of companies with more than…

6 days ago

UK boosts support for International Criminal Court

UK vows extra financial and practical resources to ICC investigators. Over 40 nations will be…

1 week ago