World Bank, IFC Back Türkiye SMEs After 115,000 Jobs Supported and $800 Million in Recovery Funding
Updated
Updated · Türkiye Today · Jun 27
World Bank, IFC Back Türkiye SMEs After 115,000 Jobs Supported and $800 Million in Recovery Funding
1 articles · Updated · Türkiye Today · Jun 27
Summary
More than 87,000 MSMEs in Türkiye received World Bank-backed financing from 2020 to 2023, helping create or preserve about 115,000 jobs through the pandemic and the 2023 earthquakes.
Türkiye's small businesses employ 70% of the workforce, World Bank officials said, making support for productivity, digitalization and higher-value manufacturing a social as well as economic priority.
$450 million from the World Bank reached 40,000 firms in quake-hit areas, while the IFC deployed a separate $350 million package through five private banks that benefited 55,000 MSMEs, including farmers.
Women and younger workers were a central focus: 61% of new hires backed by World Bank programs were women and 77% were under 30, while the IFC said closing the gender participation gap could lift GDP by 25%.
On UN MSMEs Day, both institutions framed SMEs as the base of Türkiye's supply chains, exports and local markets, and said future support will widen beyond bank lending into leasing, factoring, private equity and capital markets.
With billions in aid flowing to Türkiye, how can we ensure it builds resilient businesses instead of propping up failing ones?
As international banks push for digital transformation, are Türkiye’s smallest businesses being empowered or left behind in the tech race?
Unlocking €1.5 Billion for Türkiye’s SMEs: How the World Bank’s “Access to Finance for Jobs and Growth” Project Aims to Create 800,000 Jobs and Drive Inclusive Recovery
Overview
Launched in December 2025, the World Bank’s €1.5 billion 'Access to Finance for Jobs and Growth' project is a major step to support Türkiye’s small and medium-sized enterprises (SMEs), which make up 70% of the country’s employment. The project aims to close critical financing gaps and drive economic development by promoting inclusive growth. Recognizing that empowering SMEs is both an economic necessity and a social priority, the initiative also focuses on creating more job opportunities, especially for women and youth, who are seen as key contributors to Türkiye’s overall economic growth.