Investment & Fund Management

The European Investment Fund (EIF) partnered with QNB Finansbank to address significant financing gaps for small and medium-sized enterprises (SMEs) and students in Turkey. The client faced challenges in providing adequate loans to SMEs, particularly start-ups, due to the lack of hard collateral requirements. The tailored solution involved the EIF offering guarantees under the COSME programme, enabling QNB Finansbank to extend TRY 750 million (approximately EUR 228 million) in loans to over 37,000 small businesses over three years. This initiative aimed to enhance access to investment and working capital loans for SMEs, thereby fostering entrepreneurship and economic growth in the region.

Additionally, the partnership included an Erasmus+ agreement, which allowed QNB Finansbank to support TRY 100 million (around EUR 31 million) in loans for mobile students pursuing master's degrees in other Erasmus+ Programme Countries. This program was designed to benefit more than 2,000 students by providing loans under favorable conditions without requiring collateral or third-party guarantees, thanks to EU support. This agreement marked a significant milestone as it was the first of its kind in Turkey, facilitating educational opportunities for students and contributing to the development of human resources in the country.

Overall, the collaboration between EIF and QNB Finansbank not only aimed to strengthen the backbone of the Turkish economy through SME support but also to broaden educational horizons for students, thereby encouraging entrepreneurial ambition and job creation.