The European Fund for Southeast Europe (EFSE) has agreed to lend USD 25 million to Yapı Kredi Leasing, the leading leasing company in Turkey. This is the second EFSE loan to Yapı Kredi Leasing, the largest subsidiary of Yapı Kredi Bank. Many of the institution’s clients seek long-term leases to supplement their bank financing.
The loan is earmarked for micro and small enterprises (MSEs), with half of it to be channelled to borrowers in the country’s priority development regions.
EFSE Board Chairman Christoph Tiskens said: “Since this loan could generate nearly 1,000 leases to MSEs and foster rural businesses, it advances a number of our objectives: increased access to finance, support for small business and rural areas, and our main goal, promoting economic development and prosperity.”