The FINANCIAL — IFC is supporting the financing needs of small and medium enterprises (SMEs) in Turkey by partnering with Alternatif Bank to extend new trade-related or working capital loans to SMEs whose cashflows have been disrupted due to the COVID-19 pandemic. SMEs in Turkey are an underserved segment of the market and face difficulties to access financing. A new $25 million loan to Alternatif Bank will help SMEs to continue to operate and sustain their current employment levels. In parallel, the European Bank for Reconstruction and Development (EBRD) is providing a similar-sized loan. Alternatif Bank’s CEO Kaan Gür said:…
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