The European Bank for Reconstruction and Development (EBRD) is planning to set up a framework operation worth up to €400 million to offer funding to at least four commercial banks in Turkey, Balkan Business News reports. The funding will provide on-lending to private sector small and midsize enterprises (SMEs) operating in the agribusiness sector.

The TurAFF framework venture will consist of €200 million senior loans and €200 million co-financing, where EBRD will take direct risk participation in chosen SME sub-projects. The financing will allow banks to expand access to medium- to long-term finance available to successful SMEs operation in the agribusiness sector and assist them in expanding their funding base.

Click here for the story from Balkan Business News.