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Partnership between Şekerbank and KfW for financing smes pour le financement des pme


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Partnership between Şekerbank and KfW for financing SMEs

pour le financement des PME





  • A French-German partnership for the improvement of the private sector.

  • Final target specified : to contribute to the strengthening of the Very Small Size Enterprises (VSE) tissue in order to support growth and to establish balance in terms of economy in Turkey.

  • The subject: the subject is to facilitate the access of Turkish VSEs to credits by supporting Şekerbank’s development of meso financial activities.

  • Financing: improved credit for 10 million Euros for a 12 year period, of which 4 years is a no-payment period.

The content: current financing need of small sized enterprises (meso finance).


Turkey’s productive structure, essentially, is supplied by SMEs that consist of small size enterprises, some of which have less than 10 employees and less than 1 Million TL turnover.
Whereas, even though Turkish banking sector has increased its activities in the SME sector in recent years, the meso finance segment is practically inefficient. Such inefficiencies, especially in terms of access to bank credits, is a reflection indicating that the regional inequalities, and at the same time, inequalities according to the scale of enterprises continue structurally. A small minority of small size enterprises have obtained loans from a bank in 2008.
In fact, in the market segment of small size enterprises, they benefit less from classical credits provided to SMEs: as an independent profession, meso finance applies special techniques and a different approach such as guarantees, analyses and file application. The financing of small size enterprises, therefore, is based not on a standard proposal of credit, but on an innovative collection of financial solutions.

Our partners: KfW and Şekerbank


1. A Project proposed by KfW
This project which is related to financing small size enterprises has been recommended to AFD by its German partner KfW. At the beginning, based on a 2 M€ subsidy by the German government, KfW, which was invited by Şekerbank, has decided to increase its support to the establishment and development of “a small size enterprises” unit in Şekerbank in 2008.

In order to guide the development of this activity line, which is relatively recent in the banking sector in Turkey, KfW has resorted to the technical assistance of IPC consultancy bureau, a German meso finance leader, which is very well-known all over the world and has a prominent level of knowledge and skills in Eastern Europe. AFD’s action will continue the technical assistance of IPC to Şekerbank.


2. A Project that is produced by Şekerbank
Şekerbank, which is the 14th largest commercial bank of Turkey in terms of the size of its balance sheet today (3,8 Billion Euros at the end of 2008), is a medium-size bank with a strong growth (in 2007, + 55% increase of a total balance sheet). This growth, especially is a result of the rapid development of credit activities (from 2005 to 2008, multiplication with 3 in terms of volume– credits that are committed to SMEs and VSEs and credits that represent 39% of the total on its own). The bank, in addition, has extended the branch network in the target regions especially with SELP II (Small Enterprises Credit Program) program (today 250 branches, out of which 154 are located outside the large cities, and the number of branches expected to reach to 274 in 2010) (the branch network covers almost ¾ of SELP II provinces).

One of the advantages that Şekerbank enjoys is the fact that the bank relies on a comprehensive network of branches that provide advantages in a strong local presence and clientele (the bank has branches in 71 provinces out of 81 provinces, and especially is well-represented in Central Anatolia region). On the other hand, because of its historical location, the bank has strong ties with a clientele that consists of small entrepreneurs and people working in agriculture. The bank wishes to turn these benefits into capital by investing intensively in the credit market to VSEs/SMEs which have a strong development potential.


The expected effects of the project


The Project will contribute to the strengthening of the capacity of Şekerbank in “financing VSEs” with the technical assistance component. The final target is to cover this authority completely inside the system of the bank. On the other hand, because of the fact that long term resources are utilized in service and the re-utilization of the paid capital during the assistance in the new credit transactions concerning VSEs (the rotation of the support), VSE Professional credit support will make the bank contribute to the «enterprise model» permanently.

The credit support will enable the re-financing the VSEs whose number is between 1500 and 2000, most of which are located in the poor provinces of Anatolia. By doing so, the project will help to the creation of production investments and employment or the protection of employment in the target regions at the same time. This, at the same time, may have a leading effect on other financial institutions to concentrate on the VSEs segment and thus will contribute to the accessibility of the Turkish finance system.


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