Funding
EBRD Puts €100 Million Into Garanti BBVA Notes for Women- and Youth-Led Firms
By News Desk ·
Key takeaways
- The EBRD is investing €100 million in senior rated notes issued under Garanti BBVA's diversified payment rights programme.
- Half of the investment, €50 million, goes to the Türkiye Women in Business II programme and €50 million to the Türkiye Youth in Business programme.
- The financing carries first-loss risk cover from the Türkiye Credit Guarantee Fund, underwritten by the Turkish Treasury.
The European Bank for Reconstruction and Development is investing €100 million in senior rated notes issued under Garanti BBVA's existing diversified payment rights programme, with half earmarked for women-led SMEs and half for businesses run by people under 35. The EBRD announced the investment on November 10, 2026.
How the Garanti BBVA Notes Split
The financing gives Garanti BBVA long-term funding to widen access to finance for women- and youth-led businesses in Türkiye. Diversified payment rights financing is backed by current and future foreign-currency payment orders generated through the bank's payment business, which the EBRD said supports longer-term funding and helps diversify Garanti BBVA's wholesale funding base.
Of the total, €50 million falls under the Türkiye Women in Business II programme for on-lending to women-owned or -led small and medium-sized enterprises. Under TurWiB II, Garanti BBVA will seek to broaden access for women entrepreneurs, including businesses outside Ankara, Istanbul and Izmir and first-time borrowers. The programme also provides non-financial services to eligible women-led businesses, including advisory support, training, mentoring, networking and knowledge products, with a potential focus on growth-stage and technology-oriented companies.
The remaining €50 million falls under the Türkiye Youth in Business programme, supporting micro, small and medium-sized enterprises managed or majority-owned by people under 35. First-loss risk cover comes from the Türkiye Credit Guarantee Fund and is underwritten by the Turkish Treasury.
Francis Malige, the EBRD's Managing Director for Financial Institutions, said: "Women and young entrepreneurs are central to Türkiye's long-term competitiveness, yet many continue to face barriers in accessing finance and know-how." Mahmut Akten, CEO of Garanti BBVA, said the financing diversifies the bank's funding sources and supports long-term lending.
Garanti BBVA is one of the EBRD's longest-standing partner banks in Türkiye. This is the bank's first transaction under TurWiB II, building on its participation in the first phase of the Women in Business programme, and its first under TurYiB.
EBRD's Record in Türkiye
According to akta.pro company records, the EBRD was founded in 1991 and is headquartered in London. The same records list more than 7,800 projects completed since 1991 across more than 40 economies, and €220 billion invested since 1991. The EBRD said it has committed more than €26 billion in Türkiye since 2009, largely in the private sector.
Earlier EBRD Deals in Türkiye
On November 5, 2026, the EBRD provided €22.5 million to Sanmar Denizcilik, a Turkish tugboat manufacturer, to support its growth and green transition, according to the EBRD. The same day, it provided a $250 million sustainability-linked loan to Yeni Mağazacılık for its acquisition of CarrefourSA in Türkiye, with $200 million from the EBRD and $50 million syndicated to FMO.
On October 28, 2026, the EBRD provided a $207 million loan to Enerjisa Enerji to modernize and expand distribution networks in the Baskent, Ayedas and Toroslar regions, the EBRD said.
Garanti BBVA's Global Expansion Day
Garanti BBVA will host Global Expansion Day in Istanbul on December 3, 2026, bringing together entrepreneurs, investors and country delegations, with applications open until November 9, 2026, according to Egirisim.